U.K. Regulator Plans More Thorough Viability, Risk Disclosures

Dec. 13, 2018, 8:26 PM

The U.K.'s Financial Reporting Council will inspect disclosures of company risks and viability more closely next year to improve the quality of corporate reporting by auditors and financial directors.

“The requirements are likely to be more extensive, but we want to consult, to follow due process, and listen to stakeholder views,” Mike Suffield, the FRC’s acting executive director for audit, told Bloomberg Tax. “We will be going out to consultation on that next year.”

News of the FRC’s intentions follows a Dec. 6 review of the quality of U.K. audits, which found evidence that threats to the future...

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