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FRC Lab report on digital reporting

  • FRC (United Kingdom Financial Reporting Council) Image

12 Oct 2021

A new report from the Financial Reporting Lab of the UK Financial Reporting Council (FRC) reviews fifty early structured reports and sets out key considerations and tips for companies to help them deliver the quality that will be expected for companies’ official filings.

The key messages of the report are:

  • The majority of reports across the sample fell short of the quality that is expected for companies’ official filings. More than 70% of the files contained tagging errors, more than half had issues limiting their usability and more than 25% had design issues.
  • Although many issues were identified during the review, almost all issues could be solved with appropriate care and attention. A focus on quality by companies is crucial for a successful roll-out of structured reporting.
  • The Lab identified practice tips across three broad areas: process, usability & appearance and tagging.
  • Companies should be aware that the issues identified are clearly visible to users and, therefore, may negatively affect a company's reputation and the willingness of stakeholders to use digital information.

Please click to access the report on the FRC website.

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