On 14 October 2011, the Financial Reporting Council (‘FRC’) launched the first ‘Financial Reporting Lab’ to help seek practical solutions to current problems in financial reporting, including the length and complexity of reports and accounts. The FRC hopes that the Lab (whose members will represent a wide range of sectors, investors and companies) will help in the Government’s efforts to stream-line narrative reporting requirements and reduce the likelihood of regulatory intervention.

The FRC’s Guide to the Financial Reporting Lab is available at: http://www.frc.org.uk/images/uploaded/documents/frc%20lab%20leaflet%20final.pdf