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 FRC report can be accessed here.
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