Thought leadership on corporate reporting

Published: 18 September 2023

1 minute read

Thinking about disclosures in a broader context

In October 2012, the FRC published a discussion paper Thinking about disclosures in a broader context. The overall aim of the paper was to improve the quality of financial reporting disclosures.

The paper sets out a roadmap for a disclosure framework that considers disclosures in the financial report as a whole. The paper explores themes for disclosures; the boundaries of financial reporting including placement criteria; communication principles and calls for a more robust application of materiality.

The consultation period for the discussion paper closed on 31 January 2013. The responses to the discussion paper are available in the consultation linked above. In July 2013, the FRC published a feedback statement on the 2013 consultation setting out a series of calls to action, several of which are now being considered by the IASB as part of its Disclosure Initiative project.

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.

As part of this project, the FRC published a number of papers.

Name Clear & Concise: the journey to high quality corporate reporting
Publication date 30 August 2015
Type Statement
Format PDF, 107.9 KB
Name Clear & Concise event: Shaping the future of financial and non-financial reporting in Europe
Publication date 20 January 2015
Type Presentation
Format PDF, 2.9 MB
Name Clear & Concise: Developments in Narrative Reporting
Publication date 17 December 2015
Type Report
Format PDF, 1.7 MB
Name Cutting Clutter: Combating clutter in annual reports
Publication date 1 April 2011
Format PDF, 465.2 KB