FRC publishes stakeholder insights on future of UK digital reporting
News types: Feedback Statement
Published: 15 May 2025
The Financial Reporting Council (FRC) today unveiled insights from its discussion paper on "Opportunities for Future UK Digital Reporting,” revealing stakeholder support for digital reporting and the collaborative approach needed to address the challenges in the next phase of digital reporting in the UK.
The discussion paper reflects responses received during a feedback period which gathered perspectives from preparers, regulators, software vendors, and other stakeholders on how to shape the future of digital reporting in a EU-exit environment and in light of new legislation such as the Economic Crime and Corporate Transparency Act 2023.
Key findings include strong support for ongoing collaboration between regulators and preparers to reduce complexity, calls for improved guidance and support materials, and a recognition of the balance needed between UK-specific reporting requirements and international comparability.
Mark Babington, Executive Director of Regulatory Standards at the FRC, said:
"We are grateful to all stakeholders who contributed valuable insights to this discussion paper. The feedback clearly demonstrates that the digital reporting landscape in the UK is evolving, with stakeholders recognising both the benefits and challenges. As we enter a new phase of digital reporting in 2025, the FRC remains committed to enabling efficient, accessible digital reporting that serves the public interest while supporting UK economic growth."
The insights published in today’s discussion paper will inform ongoing development and technical approaches to digital reporting across UK regulatory bodies.
Read the Opportunities for Future UK Digital Reporting.
To improve access to structured company reporting data, the FRC also recently launched a digital reporting Viewer which is open to the public and free to use.