Clear and Concise

The FRC’s work on Clear and Concise aims to ensure that annual reports provide relevant information.  We believe that this is a key step towards high quality corporate reporting.

We recognise that there is increasing regulatory pressure being placed upon companies. With that in mind, through our activities, we aim to address some of the common criticisms about the quality of communication in annual reports such as the use of boilerplate or disclosure of immaterial information.

What is Clear and Concise reporting?

  • Clear and Concise reporting is not a new reporting requirement – our aim is to promote good communication in corporate reporting.
  • Clear and Concise is about improving accessibility of relevant information.
  • The terms 'clear' and 'concise' are simply principles of good communication. Clear and Concise reporting is an overarching principle that encompasses a number of characteristics of high quality corporate reporting.

Calls to action 

One of the aims of the Clear and Concise initiative is to change behaviour relating to corporate reporting. The FRC calls for action by all those involved in the financial reporting process to focus on:

  • Communication;
  • Placement of information; and
  • Materiality.


The Clear and Concise initiative brings together activities from across the FRC. These include:

  • Narrative reporting the FRC’s Guidance on the Strategic Report is a key strand of the initiative. The Guidance encourages companies to be innovative when drafting their annual reports and reinforces the importance of materiality. This includes considering the placement of information to facilitate effective communication. 

  • Reports from the Financial Reporting Lab 

  • Reporting by Corporate Reporting Review on areas in financial statements where we commonly observe “clutter”, contrary to the principle of Clear and Concise reporting.

  • Disclosures Through our activities, taking steps to improve the effectiveness of disclosures including those setting disclosure requirements in the UK, Europe and internationally.


January 2015 Clear & Concise: the journey to high quality corporate reporting (PDF)
January 2015 Clear & Concise event: Shaping the future of financial and non-financial reporting in Europe (PDF)
December 2015 Clear & Concise:  Developments in Narrative Reporting (PDF)
April 2011 Cutting clutter  (PDF)