On 5 February 2014, the Guidelines Monitoring Group published an updated version of its guidelines on good practice reporting by private equity portfolio companies. The guidelines have been updated with examples of good practice reporting drawn from portfolio companies' accounts over the last two years. The Guidelines Monitoring Group published these guidelines to monitor conformity of the UK private equity industry with the Guidelines for Disclosure and Transparency in Private Equity, which were the result of Sir David Walker's review on this subject in 2007 (the "Walker Guidelines").
The Guidelines Monitoring Group will also be reviewing how updated guidance issued by BIS and the FRC applicable to listed companies will be incorporated into the Walker Guidelines. The updated Walker Guidelines will be applicable for reporters in scope for September 2014 year end onwards and further guidance will be shared in the spring and finalised by June 2014.
The guidelines are available at:
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