The FRC’s revised strategic report guidance takes into account new director and company duties regarding promoting success, while considering the broader impact of their actions.
Revised guidance has been issued by the financial reporting watchdog on the strategic report, in a bid to encourage companies to “consider wider stakeholders and broader matters” impacting performance over the long term. The near-100-page guidance from the Financial Reporting Council (FRC) makes improvements to detail concerning non-financial reporting—without ditching the key principles of existing guidance. “The FRC believes that the integration of non-financial information into the strategic report is a key part of telling a company’s story,” it said. A key part of the new guidance is the inclusion of information about meeting the demands of new legislation, which requires directors to have regard to broader issues w