• Register
Return to: Home > News > Public Sector > FRC provides advice on preparing 2017/2018 annual reports

FRC provides advice on preparing 2017/2018 annual reports

The Financial Reporting Council (FRC) has written to companies highlighting key areas for improvement when preparing annual reports for 2017/2018 considering the changes made to reporting requirements.

The letter draws attention to areas of investor focus as companies should be making detailed and quantitative disclosures explaining the impact of the implementation of new accounting standards IFRS 9, IFRS 15 and IFRS 16.

The letter also tackles the requirements coming out of the EU Directive on non-financial reporting, effective for financial years beginning from 1 January 2017. The FRC is consulting on amendments to the Guidance on the Strategic Report to reflect the new requirements.

Additionally, the letter focuses on improvements to viability statements, which is a priority for investors, as well as; reporting on the capacity to pay dividends, critical judgements and estimates, and defined benefit pensions.

The letter is available here.

Top Content

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    FASB: a quest for simpler standards

    FASB chair Russell Golden addressed the IMA 2019 Annual Conference and Expo at the Sheraton San Diego Hotel and Marina, California, on 18 June. IMA immediate former chair-emeritus Alex Eng acted as moderator. Joe Pickard reports.

    read more

    The future of audit, and how to get there

    Two recent reports peer into the future of the audit profession. One analyses what an audit should offer, while the other looks at how the audit process will be carried out. Robin Amlôt takes a closer look at both.

    read more

    EFAA elects new president, focuses on digital future

    EFAA’s new president, Salvador Marin, outlined his key priorities for the next two years at the organisation’s 2019 annual general meeting, while outgoing president Bodo Richardt offered advice. Robin Amlôt reports.

    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.