The U.K. Financial Reporting Council (FRC) will prioritize climate-related financial disclosures in company accounts and climate risks in audits as key areas of supervisory focus for 2022/23.
The corporate governance regulator will focus its review efforts on the corporate reports and audits of companies in “higher-risk” sectors still reeling from economic pressures caused by the COVID-19 pandemic and subsequent lockdowns and travel restrictions. These include travel, hospitality, and leisure; retail; and construction and materials.
