Background

In February 2019, the Fin­an­cial Re­port­ing Council (FRC) issued a Dis­cus­sion Paper on the Busi­ness Re­port­ing of In­tan­gibles.  The FRC notes that there are fre­quent calls to reform the ac­count­ing for in­tan­gible assets, par­tially in re­sponse to the move to a know­ledge-based economy. There­fore, the FRC paper pub­lished con­siders the case for radical change to the ac­count­ing for in­tan­gible assets and the like­li­hood of such change being made in the near future.

Current status of the project

The Dis­cus­sion Paper was issued in Feb­ru­ary 2019 with a comment period to 30 April 2019.

In January 2021, the FRC published its feedback statement which provides a summary of the views expressed in the responses to the Discussion Paper.