Clifford Chance

FRC publishes discussion paper on the future of corporate reporting

14 October 2020

On 8 October 2020, the Financial Reporting Council published a discussion paper, A Matter of Principles The Future of Corporate Reporting, which is intended to start a discussion about potential changes to the current system of corporate reporting, with a view to making it more effective and engaging for those with an interest in a company.

The FRC proposes moving towards a more objective-driven reporting framework (a so-called "reporting network"), supported by overarching principles intended to establish coherence across all company reporting. The framework would be supported by content communication principles that apply at an individual report level to provide guidance on how each of the reports comprising the reporting network should be written so that they communicate effectively.

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