FRC Webinar: Review of Interim Reporting
02 June 2021
Ahead of the 2021 interim reporting season, the FRC invites you to a webinar to learn more about its recent review of interim reporting
which highlighted examples of good reporting practice and areas where further improvements are required. High-quality reporting is vital for investors and other users of accounts to make better informed decisions about a company’s health and prospects. The webinar will be particularly useful for preparers, auditors, investors and other users of interim reports.
When: Wednesday, 16 June 2021, 12-1pm
To register for the webinar click here
(a Teams Live link will be sent to registered attendees prior to the event).
About the review:
The FRC reviewed the reports of 20 quoted companies across a range of industries to assess the quality of interim reporting. Timely and reliable interim reporting is vital for investors, creditors and other stakeholders to properly understand a company’s financial position, performance and liquidity.
Overall, the FRC was pleased with the quality of interim reports, with most companies taking into account FRC Covid-19 recommendations to enhance their disclosures, particularly in relation to going concern and the statement of cash flows. For significant events and transactions taking place during the interim period, such as impairments, many companies provided detailed explanations and other helpful information normally reserved for the annual reports and accounts. An area of improvement, however, was with regard to providing better explanations on balance sheet movements.