Further Update for Directors of Listed Companies in the UK
The Financial Reporting Council (FRC), the United Kingdom’s independent regulator responsible for promoting high quality corporate governance and reporting to foster investment, is publishing a further Update for Directors of Listed Companies in the UK to assist them in responding to continued economic uncertainties facing a number of countries around the world.
The Update is aimed at drawing together a number of the more significant issues directors may considers in preparing interim reports, given the heightened country and currency risk.
Commenting on the Update, Stephen Haddrill, Chief Executive of the FRC, said: “This second Update for Directors draws attention to the importance of interim reports giving a balanced and understandable assessment of a company’s position and prospects in the current uncertain economic conditions. Directors need to focus disclosures on the strategic, operational and financial risks facing their companies and clearly identify the nature and scope of direct, and where possible indirect, exposures to currency and other current risks.”