The Financial Reporting Council (FRC) published a discussion paper on the future of corporate reporting in October 2020. The paper considers methods of reducing the length of annual reports and making the information easier to access. The paper challenges existing thinking about how companies can more effectively meet the information needs of investors and other stakeholders. The proposals are designed to be tested with stakeholders and stimulate the conversation about what the future of corporate reporting should look like and the FRC have invited comments up to a deadline of 5 February 2021.
The paper looks at:
• a new common set of principles that applies to all types of corporate reporting
• moving to a network of interconnected reports that meet the needs of a wider group of stakeholders;
• reporting that is more flexible and responsive to changing demands and circumstances.
The discussion paper can be downloaded here