In advance of the 2014 reporting cycle, the Financial Reporting Council’s (FRC) Financial Reporting Lab has published a list of key issues for auditors to keep in mind in order to improve the standard of corporate reporting
The reminder summarises the Lab’s published reports and highlights areas where relatively simple changes could improve corporate reporting, enhancing the usefulness of reports for investors.
The Lab published two reports in 2014, on accounting policies and on clear and concise reporting. They add to reports covering investor and company views on various governance and financial reporting areas.
The summary brings together key finding from the reports and highlights a number of areas include reporting of audit committees; reporting of pay and performance; a single figure for remuneration; presentation of market risk disclosures; debt terms and maturity tables; net debt reconciliations; and operating and investing cash flows
Lab reminders for the 2014 reporting season is available here: https://frc.org.uk/Our-Work/Publications/Financial-Reporting-Lab/Lab-reminders-for-the-2014-reporting-season.pdf
