Financial Reporting Council will look at the disclosure of Brexit risks as part of its next thematic reviews.
The UK's corporate reporting watchdog will be reviewing how Brexit affects the disclosure of "principal risks and uncertainties" in its next thematic reviews. The Financial Reporting Council (FRC) has said Brexit will be on the agenda of its routine monitoring programmes for corporate reporting in 2018–19. Among its priorities will be the use of the new financial reporting standard for lease accounting, as well the affect of new standards on revenue and financial instruments on 2018 interim accounts. Accounting for small and AIM-listed companies will also be reviewed. The FRC has also published the themes for its review of audit in the UK, which include an analysis of audit quality indicators used by audit firms. In additio