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This page helps identifies those 'hot topic' areas that are likely to be most relevant for UK reporters including other useful resources in financial reporting.  This page also gives you access to our 'Stay Tuned Online' internet-based financial reporting updates aimed at helping finance teams keep up to speed with IFRSs and other financial reporting issues.

Hot topics

We detail below a number of hot topics likely to be of relevance to both listed and unlisted companies and groups.

Listed companies/groups Unlisted companies/groups (including LLPs)

FCA final policy decision on amending DTR 7.2.8AR and LR 9.8.6R to improve diversity disclosures by in scope companies effective 1 April 2022.

New Listing Rule 14.3.27R extending the application of its climate-related disclosure requirements for commercial companies with a UK premium listing to issuers of standard listed shares and Global Depositary Receipts representing equity shares (excluding standard-listed investment entities and shell companies) - effective 1 January 2022.

New FCA Listing Rule 9.8 to enhance climate-related financial disclosures effective 1 January 2021

Disclosure and Transparency Rule 4.1.14 requires companies on a regulated market to publish annual reports in XHTML format for accounting periods beginning on or after 1 January 2021. The requirement for issuers who prepare IFRS consolidated annual financial statements to tag notes to the financial statements will apply to financial years starting on or after 1 January 2022.

FRC guide to help smaller-listed companies improve financial reporting

London Stock Exchange introduces rules on corporate governance reporting for AIM companies

FRC publishes new UK Corporate Governance Code and revised Guidance on Board Effectiveness effective 1 January 2019

FRC's Financial Reporting Lab publishes a follow up report on disclosure of dividend policy and practice

Financial Reporting Lab report on disclosures of supplier relationships and commercial income

FRC FAQs on ESMA Guidelines on Alternative Performance Measures

FCA amendments to the Disclosure and Transparency Rules (DTR) to implement the new EU Non-Financial Reporting Directive (2014/95/EU) requirement for issuers to disclose their diversity policy in the corporate governance statement.

New Code launched for corporate governance of large private companies (effective 1 January 2019)

Interim amendments to FRS 102 to provide interim relief for small entities when accounting for Directors’ loans prior to finalisation of the proposals in FRED 67.  

Changes to small company and micro-entity reporting (including FRS 105 and withdrawal of the FRSSE)

Revised SORPS to incorporate the requirements of FRS 102.

Deregulatory changes for LLPs and qualifying partnerships as a result of the UK implementation of the EU Accounting Directiv and amendments to FRS 105

FRC non-mandatory guidance on the going concern basis of accounting and reporting on solvency and liquidity risks for non-code companies.  

Climate-related financial disclosures for UK public interest entities, Alternative Investment Market (AIM) companies, high turnover companies with more than 500 employees and LLPs with more than 500 employees and turnover of more than £500m for periods commencing on or after 6 April 2022.

FRC thematic reviews and priority sectors for 2022/23

SECR regulations come into force for accounting period beginning on or after 1 April 2019

FRC reminders for 2021/22 reporting season

FRC publishes revised UK Stewardship Code

FRC thematic reviews into IFRS 9, IFRS 15 and IAS 36

FRC thematic review of IFRS 16 interim disclosures

Revised Directors' remuneration reporting requirements effective 10 June 2019 (also extended to large traded companies)

Comments invited on updated draft SORP for Limited Liability Partnerships

FRC publishes revised Guidance on the Strategic Report

The Companies (Miscellaneous Reporting) Regulations 2018 effective 1 January 2019 (including s172 statement in the strategic report and changes to the directors' report for quoted and UK registered companies with more than 250 employees).

FRC publishes amendments to FRS 102

FRC Lab report into risk and viability reporting

FRC announces thematic reviews for 2018/19

FRC thematic reviews of judgements and estimates, pension disclosures and APMs

FRC Corporate Reporting Review 2016/2017

IASB Practice Statement on Making Materiality Judgements

ICAEW and ICAS publish updated guidance on realised and distributable profits under the Companies Act 2006

Amendments to FRS 101 and FRS 102 - Notification of shareholders - removes the requirement to notify shareholders

FRC consultation on improving the statement of cash flows 

Regulations implementing EU Non-Financial Reporting Directive published including European Commission guidelines.

New UK GAAP published including revised versions of FRSs 100-102 incorporating amendments as a result of the EU Accounting Directive.

Sharman proposals on going concern.  The FRC has now finalised its implementation of the recommendations of the Sharman Inquiry, with the publication of an updated version of the UK Corporate Governance Code in September 2014 and associated Guidance on Risk Management, Internal Control and Related Financial and Business Reporting. These are effective for periods commencing on or after 1 October 2014.  

The requirement to include a full listing of related undertakings within annual financial statements for accounts approved by Directors on or after 1 July 2015.

Changes as a result of the UK implementation of the EU Accounting Directive

Integrated reporting developments

Sustainability reporting developments

Audit reform including mandatory rotation. 

IFRS reporters

New and revised standards for 30 September 2017 year-ends

IFRS 9 Financial Instruments

IFRS 15 Revenue from contracts with customers

Clarifications to IFRS 15 'Revenue from Contracts with Customers' 

IFRS 16 Leases 

IFRS 17 Insurance Contracts 

IFRS 2 - IASB clarifies the classification and measurement of share-based payment transactions 

IASB's comprehensive project on the Conceptual Framework.

Other useful resources

Our "Other Regulatory" page provides content on various aspects of the UK Regulatory Framework, from the Financial Reporting Council (FRC) who are the authorised body to issue accounting standards to the various laws and rules to which UK companies are required to comply with.  Our "standards" page contains links to our summaries, analysis, history and resources for UK GAAP (including SORPS), International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), IFRIC Interpretations,  SIC Interpretations and other pronouncements issued by the International Accounting Standards Board (IASB) and its related bodies.  It also includes information on the Financial Reporting Council (FRC), IFRS Foundation and the IASB and other organisations involved in financial reporting  Corporate Governance developments are contained within our "Governance" page.

Below are a number of other resources on various topics that may be of interest to UK reporters:

Specialist topics Broader issues
Country-by-country reporting Research and education
 Islamic accounting Global financial crisis
 eXtensible Business Reporting Language (XBRL)
 Public sector reporting
 Integrated reporting
Sustainability reporting


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.