On 19 August 2010 the Financial Reporting Review Panel published its annual report, based on findings from its review of accounts in the year to 31 March 2010. The Panel found continuing improvement in the general quality of IFRS financial reporting, but stated that in two areas, capital management and share-based payment disclosures, reporting was sometimes poor in terms of content, extent and usefulness. It also stated that it continues to have concerns about the quality of reports and accounts of some smaller listed and AIM quoted companies.
The report also includes a set of characteristics of corporate reporting which the Panel believes make for a good annual report. (For general background.)