October 2023
The Financial Reporting Council (FRC) published on 5
th October 2023 its reporting expectations for companies amidst a period of high interest rates, persistent inflation and ongoing economic uncertainty. The most frequently raised issues identified by the FRC related to impairments, and judgments and estimates.This reflects the ongoing economic uncertainties companies need to factor into their financial reporting and the need for detailed explanations to help users understand the positions taken.
The annual report of corporate reporting can be found
here.
Source: www.media.frc.org.uk