The United Kingdom regulator in charge of corporate reporting wants to boost its transparency efforts by adding to its annual report the names of companies that have been asked to make significant corrections in their financial reports.
The Financial Reporting Council (FRC), which oversees financial reporting and corporate governance in the U.K., is proposing to refine its operating procedures for reviewing corporate reporting to include the enhanced disclosure. The details of the revisions were contained in a consultation paper released by the regulator last month.
