FRC release guidance for smaller listed companies to improve financial reporting
Released 13 May 2019
The FRC and ICAEW have jointly released ‘Smaller Listed and AIM Quoted Companies – A Practical Guide for Audit Committees on Improving Financial Reporting’.
The Financial Reporting Council (FRC) and Institute of Chartered Accountants in England and Wales have jointly released Smaller Listed and AIM Quoted Companies – A Practical Guide for Audit Committees on Improving Financial Reporting, which is aimed at improving the financial reporting of these entities.
The guide focuses on some of the key points raised by the FRC on the quality of reporting in the sector in its most recent Annual Review of Corporate Reporting, as well as providing practical tips for audit committees.
The FRC stresses in its press release that ‘High quality financial reporting can contribute to a strong and efficient economy by improving transparency and giving investors the ability to assess the financial integrity of a company and hold management to account. However, for many smaller listed and AIM quoted companies, financial reporting is not always seen as a top tier issue.’
The guidance is available on the FRC website, and will shortly be available from the Accounting Standards section of the Croner-i Tax and Accounting platform.