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FRC publishes discussion paper on the future of corporate reporting

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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.

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