This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Narrative Reporting

Background

The narrative reporting regulations  issued by the Department for Business, Innovation and Skills (BIS) require all companies (except small companies) to prepare a Strategic Report.

Project Milestones

The Financial Reporting Council (FRC) published an Exposure Draft (ED) of guidance to assist directors of listed companies to apply the Strategic Report requirements set out in The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 (the “narrative reporting regulations”).  This non-mandatory guidance was created in response to a request from BIS and has been developed to encourage preparers to consider how the Strategic Report fits within the annual report as a whole and help enhance the quality of narrative reporting more generally.  

The comment period for the Exposure Draft closed on 15 November 2013. 

The FRC published Guidance on the Strategic Report ('FRC Guidance'), and a Feedback Statement summarising the responses to the consultation, in June 2014.

Current status of the project

In July 2018 the FRC published an amended version of its Guidance, following consultation. The Guidance remains non-mandatory with a view to encouraging best practice.

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.