Financial Reporting Council

The FRC prompts boards, companies, and auditors to improve responses to climate change challenges through improved governance structure and narrative reporting.

By Paul A. Davies and Michael D. Green

On 10 November 2020, the Financial Reporting Council (FRC) published its findings (the Report) on its thematic review undertaken in 2020, concerning climate-related considerations that various stakeholders take into account. The Report focuses on boards, companies, auditors, professional bodies, and investors, as these actors help drive appropriate reporting to the market and thus ‘play important roles in delivering society’s climate ambitions’.

The UK’s Financial Reporting Council aims to develop a principles-based framework for corporate reporting.

By Paul A. Davies and Michael D. Green

The UK’s Financial Reporting Council (FRC) has published a discussion paper, “A Matter of Principles — The Future of Corporate Reporting,” that aims to “provide thought leadership for the future of corporate reporting and explore ideas for a new model, challenging the status quo”. The paper, published on 7 October 2020, builds on previous independent reviews and reform proposals by the FRC.