FRC Lab publishes survey results and resources on UK Electronic Reporting
10 Sep, 2021
The Financial Reporting Lab ("the Lab") has published the results of a survey, launched in May 2021, which sought to understand how prepared companies and service providers were for the introduction of structured electronic reporting for annual financial reports which will be required by Disclosure and Transparency Rule (DTR) 4.1.14.
Last year the Financial Conduct Authority (FCA) delayed, by one year, the mandation of Disclosure and Transparency Rule 4.1.14, which introduced a requirement for companies on a regulated market to publish annual reports in XHTML format. These requirements now apply for financial years beginning on or after 1 January 2021.
The survey had 46 respondents and show that UK companies have begun to put the right steps in place to meet the requirements with many having undertaken an analysis of the requirements and identified service providers. Some remeining actions still remain such as running tests and engagement with the board.
The Lab has also published a list of resources to help companies understand and implement the requirements. It is also reviewing a set of UK and EU ESEF filings with the aim of publishing a best practice report in autumn.
A press release, the results of the survey and a list of resources are available at the FRC website.
