Financial Reporting Lab
Background
The Financial Reporting Lab is an initiative of the Financial Reporting Council (FRC) to bring together companies and investors to improve the effectiveness of corporate reporting. The lab operates in a different way to the more traditional standard-setting activities of the FRC and IASB by providing a ‘safe’ place to experiment with reporting. The lab is used as:
- a learning space to test new reporting formats with investors and gain their feedback
- an area where experiments in reporting can be made
Current Lab projects
The current projects (link to FRC website) of the Financial Reporting lab are:
Lab Insights
Clear and Concise reporting:
- Lab Case Study Report: WM Morrisons Supermarkets PLC - Supplier relationships and emergent issues reporting
- Towards Clear and Concise Reporting
- Accounting policies and integration of related financial information
Other:
- Disclosure of dividends
- Business model-focused reporting
- Materiality
- Net zero disclosures
- Stewardship reporting
- Digital security disclosure
- Net zero disclosures project
- ESG data
- Cyber, Digital and Data risk
- Reporting on risks, uncertainties, opportunities and the use of scenarios
- UK Electronic Reporting (ESEF readiness)
- Virtual and augmented reality in corporate reporting
- Reporting on risks, uncertainties and scenarios
- Video in corporate reporting
- Reporting on stakeholders and Section 172 disclosures
- COVID-19 Resources, action, the future
- COVID-19: Resources, action, the future - a look forward
- COVID-19 Going concern, risk and viability
- COVID 19: Going concern, risk, and viability - a look forward
- Workforce reporting
- Climate-related reporting
- AI and corporate reporting
- Sources and uses of cash
- Business model and risk and viability reporting
- Reporting on performance metrics including the Lab's guidance
- Blockchain
- Digital Future:AI
- Digital future of corporate reporting
- Risk and viability reporting
- Digital Future: Data Project
- Business model reporting
- Disclosure of dividend policy and practice
- Corporate reporting in a digital world
- Climate and workforce reporting
Completed project reports can be found here (link to FRC website).
