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Implementing the FRC’s ‘Guidance on the Strategic Report’

Jaclyn Jaeger | August 2, 2018

The Financial Reporting Council (FRC), the U.K.’s corporate governance regulator, has published the final revised Guidance on the Strategic Report, a set of high-level principles intended to help companies improve the relevance of their strategic reports to shareholders.

The FRC in June 2014 issued the draft Guidance on the Strategic Report in response to the Companies Act 2006, which established the requirement that companies produce a strategic report. Since that time, however, the regulatory focus on narrative reporting, and the expectations of shareholders using such reporting, has significantly increased, prompting the FRC to publish final guidance.

 “The FRC believes the strategic report should be clear and concise and result in fair, balanced, and understandable reporting,” the regulator said. “The guidance is,...

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