More detail of long-term value created by UK companies proposed by FRC
New guidance on the reporting of non-financial matters has been proposed by accounting’s watchdog in an exposure draft, taking into account the UK’s recent implementation of new EU rules.
Paul George, FRC. Photo: FRC
Improved reporting of long-term planning and non-financial matters is being proposed by accounting’s watchdog, the Financial Reporting Council (FRC).
A consultation has been launched by the FRC, aimed at enhancing the disclosures made by large businesses regarding their impact on the environment, employees, anti-corruption and bribery, plus human rights.
The update aims to reflect section 172 of the Companies Act, which requires directors to consider those issues in their running of the company. The act was amended to account for EU rules on non-financial reporting, which included a requirement for details on diversity policy and KPIs
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