The FRC reviewed the reports of 20 quoted companies across a range of industries to assess the quality of interim reporting. Timely and reliable interim reporting is vital for investors, creditors and other stakeholders to properly understand a company’s financial position, performance and liquidity.

Overall, the FRC was pleased with the quality of interim reports, with most companies taking into account FRC Covid-19 recommendations to enhance their disclosures, particularly in relation to going concern and the statement of cash flows. For significant events and transactions taking place during the interim period, such as impairments, many companies provided detailed explanations and other helpful information normally reserved for the annual reports and accounts.