• Register
Return to: Home > News > Financial Results > FRC plans to boost best practice in corporate reporting

FRC plans to boost best practice in corporate reporting

The Financial Reporting Council (FRC) has planned to supplement its routine monitoring programme through targeted reviews of corporate reports and audits over the next two years.

Forty selected smaller listed and AIM quoted companies will be informed by FRC before the end of the year about its plan to review two specific aspects of their next published reports and accounts, to be drawn from five areas that have recently featured in FRC thematic reviews or Financial Reporting Lab reports.

Priority sectors and areas of focus for review in 2018/19 will be financial services, with particular emphasis on banks, other lenders and insurers, oil & gas and general retailers as well as business support services.

The completion of the review of The Auditors Work on the Front Half of the Annual Report is also part of the thematic inspection programme and will enable further assessment of the impact of recent relevant changes to auditing standards.

The work of the group auditor will continue to be a mandatory area of review after 2018/19, with a focus on the additional requirements with respect to the work of component auditors.

Top Content

    Blockchain and the Big Four: does it deserve all the hype?

    Although still in its infancy, blockchain is one of the most talked-about technologies of 2018. Will the blockchain bubble burst, or will it live up to its reputation as the ‘new internet’? Eleanor Jerome investigates

    read more

    Malaysia: Ready to show its strength

    Recent changes have enhanced the quality of audit reports in Malaysia, giving the profession a welcome opportunity to demonstrate its value to clients. Paul Golden reports

    read more

    China: Regulating the Chinese dragon

    Harsh regulatory actions and looming US trade wars have been dampening expectations in a Chinese market still full of potential, finds Jonathan Minter

    read more

    Indigenous Australians: New checks and balances

    With fewer than 40 known qualified Indigenous Australian accountants, Jonathan Minter speaks to Shelley Cable from PwC Australia about how increasing this number is an important part of improving the financial literacy of Indigenous communities

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.