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On 6 November 2018, the FRC published a report aimed at encouraging better reporting by allowing users to access the quality of management's decisions.
On 6 November 2018, the FRC published a report aimed at
encouraging better reporting by allowing users to access the
quality of management's decisions.
The review covered the following topics:
Alternative performance measures and
strategic reports
Pension disclosures.
Accounting policies, including
critical judgments and estimates
Cash flow statements.
Tax disclosures.
The FRC noted improvements across all five topics, with more
significant improvements seen in the larger companies sampled.
However, it also found that there was scope for further
improvements; for instance, many companies still failed to use
their strategic reports to provide a sufficiently comprehensive
analysis of their accounts.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
