FRC publishes discussion paper on the future of corporate reporting

  • FRC Image

08 Oct, 2020

The Financial Reporting Council (FRC) has published a discussion paper proposing a future for corporate reporting based on a principles-based framework.

The discussion paper outlines a blueprint for a more agile approach to corporate reporting which challenges existing thinking about how companies can more effectively meet the information needs of investors and other stakeholders.

Proposals include:

  • unbundling the existing purpose, content, and intended audiences of the current annual report by moving to a network of interconnected reports;
  • a new common set of principles that applies to all types of corporate reporting;
  • objective-driven reports that accommodate the interests of a wider group of stakeholders, rather than the perceived needs of a single set of users;
  • embracing the opportunities available through technology to improve the accessibility of corporate reporting; and
  • a model that enables reporting that is flexible and responsive to changing demands and circumstances.

Comments on the discussion paper are invited by 5 February 2021.

Please click for more information and access to the discussion paper and related documents on the FRC website.

The FRC's podcast in conversation with Deepa Raval, Director of Narrative Reporting and Jen Sisson, Deputy Director of Stakeholder Engagement and Corporate Affairs on the FRC's Future of Corporate Reporting project is also available on the FRC website.

The FRC also offers a launch event on 11 November 2020 to present an overview of key aspects of the consultation paper. Please click for more information here

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.