FRC reports highlight benefits of Covid disclosures Investors require “clear and timely” disclosures from companies during the Covid-19 pandemic to inform decision-making and drive capital allocation. Two new reports from the Financial Reporting Council have attempted to break down what investors need from companies during the current period of uncertainty. The FRC has recommended that […]
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FRC: Expectations and standards ‘still apply’ The Financial Reporting Council (FRC) has moved to remind companies that expectations and standards have not changed, despite the ongoing Covid-19 crisis. At the same time, however, the FRC clarified that it had not increased pressure on auditors to be tough. In an update, the Council said auditors should […]
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In February, the Financial Reporting Council (FRC) announced what it has called a “major review” of how companies and auditors assess and report on the impact of climate change, with the findings due to be published in the Autumn, ahead of COP26. But investors are set to play a key role in this review, according […]
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The UK Government has now implemented social distancing measures across the UK as the coronavirus outbreak continues to gather pace. Mass gatherings are being postponed or cancelled in response, but UK companies with scheduled annual general meetings (AGM) are having to consider whether they do the same or find another way to hold AGMs. The […]
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UK reporting watchdog issues diversity warning The majority of the UK’s leading companies are failing to act on boardroom ethnic diversity, a major report by the Financial Reporting Council (FRC) reveals. The report, which reveals most of the FTSE 350 do not set measurable ethnicity targets, has fuelled concerns that companies will fail to meet […]
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Reporting on workforce-related issues needs to improve to meet investor needs and reflect modern-day practices, according to a new report from the Financial Reporting Council’s Financial Reporting Lab. Workforce-related matters such as working conditions, changing contractual arrangements and automation have all become areas of increasing investor focus in recent years and the Lab’s report reveals […]
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Can the FRC rescue its reputation? It has become one of the most disparaged – and lampooned – regulatory institutions of this century. The Financial Reporting Council’s (FRC) oversight of the audit profession has been dubbed everything from ramshackle to timid, to lacking in any real pace or direction. The poor auditing practices of the […]
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Companies face new reporting and governance targets Companies have been urged to improve their corporate reporting and governance practices in a new report from the Financial Reporting Council. The FRC published its Annual Review of the UK Corporate Governance Code on Thursday (9 January) with a list of recommendations for businesses. It said that a […]
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The Financial Conduct Authority (FCA) has updated its proxy advisor enforcement rules following industry feedback. The update follows the regulator’s proxy advisor Shareholders’ Rights Regulations (SRD II), which came into force in June, that gave the FCA powers to discipline and investigate proxy advisors. The regulations require proxy advisors to disclose how they produce their […]
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Stewardship moves beyond box ticking The Financial Reporting Council (FRC) has published a new UK Stewardship Code which is due to come into effect on 1 January 2020. The revised Code has set a higher standard for how money is invested on behalf of UK savers and pensioners that the FRC said reflects “the changing […]
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