UK financial watchdog issues further guidance on making financial disclosures reflecting the impact of the Covid-19 pandemic.
UK corporates facing a significant recession have been warned their financial disclosures must fully recognise the risks to their survival. Investors expect painful transparency for company prospects, according to the UK financial reporting watchdog.
The Financial Reporting Council (FRC) this week issued guidance in two reports for companies about to make financial disclosures that will reflect their position as a result of the Covid-19 pandemic. The reports underline the need to produce detailed going concern statements and the importance of risk information. FRC chief executive, Sir Jon Thompson, highlighted expectations among investors.
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