Joint regulators statement for companies, auditors and users of financial accounts

Jan 28, 2021

The Financial Reporting Council (FRC) and the Financial Conduct Authority (FCA) have published updated guidance for companies and auditors to ensure high quality financial information continues to flow to users to support decision-making. The FCA and FRC joint statement reminding companies that extended financial information timelines continue to apply was published on 27 January 2021.

In the news item announcing the guidance, the FRC’s Executive Director of Regulatory Standards, Mark Babington said:

“As the busiest period of the year for the preparation and audit of financial accounts approaches, it is paramount that investors and users of financial information continue to receive high quality financial information.  

While companies and auditors face increased challenges in preparing their accounts, the joint measures allow for additional time to ensure high quality reporting.

Companies, auditors and investors should familiarise themselves with the latest guidance during these uncertain times to ensure they are managing reporting frameworks and stakeholder expectations appropriately.”  

The updated guidance is available here.