Governance in brief — FRC issues advice on annual reports for 2021/22 reporting season
The Financial Reporting Council (FRC) has issued a bulletin for CEOs, CFOs and audit committee chairs covering its perspectives on key developments and areas of focus for upcoming annual reports.
The bulletin provides a useful and timely reminder for audit committee agendas. It is detailed, reinforcing messages on reporting issued during this year, and highlights hot topics, drawing on the CRR’s Annual Review of Corporate Reporting. This content indicates just how much there is to bear in mind when preparing this year’s report, including the new challenge of reporting on climate change and the continuing challenge of judgements and estimates in the light of the COVID-19 pandemic, the stresses from the rapid opening of the economy and the transformation of business models. Our Governance in brief also covers the recently published FRC Lab report on TCFD disclosures.
Related Topics
- Board of Directors and Committees
- Corporate Governance
- Diversity and inclusion
- IAS 1 — Presentation of Financial Statements
- IAS 34 — Interim Financial Reporting
- IAS 37 — Provisions, Contingent Liabilities and Contingent Assets
- IFRS 7 — Financial Instruments: Disclosures
- IFRS 9 — Financial Instruments
- IFRS 15 — Revenue from Contracts with Customers
- IFRS 16 — Leases
- UK Corporate Governance Code
- Brexit
- Climate risk
- Conduct Committee
- Coronavirus (Covid-19)
- European Securities and Markets Authority (ESMA)
- Narrative reporting - EUNFRD
- Narrative reporting - other
- Narrative reporting - strategic report
- Non-GAAP measures (including underlying profit)
- s172 reporting
- SECR
- Task Force on Climate-related Financial Disclosures (TCFD)
