• The Financial Reporting Council (FRC) has launched a new project to “challenge existing thinking” around corporate reporting. The purpose of the project is to consider how companies can better meet the information needs of shareholders and other stakeholders. The FRC will review current reporting practices and consider the purpose of corporate reporting generally. It has called for 15 participants to join the study group. Nominations should be submitted by 15 November 2018.
  • The FRC has also published a new report on corporate reporting by smaller listed and AIM companies. The report examines 22 non-FTSE 350 listed companies and 18 AIM companies, focussing on alternative performance measures (APMs) and strategic reports, pensions disclosures, accounting policies (including critical judgments and estimates), cash flow statements and tax disclosures. The FRC has noted improvements in all areas since 2017, particularly among the larger companies it examined and especially among APMs, judgments and estimates, but says there is “clearly still scope for further improvement”.