The Financial Reporting Council (FRC) has issued advice to businesses across the UK in the lead up to Brexit. The guidance provides five critical generic actions that companies should take prior to the UK’s departure from Europe.
- Urge employees to check whether they need to apply to the EU Settlement Scheme;
- Ensure customers and suppliers have made their own preparations for Brexit;
- Attend a Brexit Business Readiness event;
- Identify any additional legal or regulatory barriers that may result from a no-deal Brexit; and
- Consider corporate reporting of risks associated with Brexit.
To find out more, and access the full report, click here.