Improve detail in corporate reporting, says watchdog
The UK reporting watchdog says corporate reporting is improving, but more detail and clarity is needed.
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UK companies could improve the quality of detailed explanations in their corporate reporting, according to an annual inspection from the reporting regulator.
The Financial Reporting Council (FRC) has released its Annual Review of Corporate Reporting with calls to tackle "boiler plate" language used to describe estimates and judgements. The FRC said that companies could also do more to improve viability reports.
Generally, the FRC said the quality of reporting has improved since the introduction of the strategic report in 2013. But the watchdog said it "remains an area subject to frequent challenge by the FRC's corporate reporting team,
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