No of Member Volunteers required
Up to 8
Timeframe and Commitment
16-20 hours during November 2020 – January 2021
The Financial Reporting Council (FRC) has published a discussion paper inviting comments on what shape and content corporate reporting should have today.
The discussion paper proposes a “radical overhaul” to establish a new regime fit for purpose until 2030 which would completely overhaul the current familiar, paper-based annual report. The FRC proposes a more “agile” system in which “less is more”, with greater use of digital data, a wider focus on a company’s “value creation” rather than just its financial performance and one which businesses can adapt to suit their own specific circumstances. The FRC aims to reshape the content of corporate reporting to meet the demands of a wider set of stakeholders through a ‘network structure’ of separated but inter-connected reports. If enacted, these proposals when taken together will serve to completely change the current corporate reporting regime in the UK.
CFA UK aims to bring together a working group to respond to the proposals by the deadline of 5th February 2021. This timescale may allow sufficient time for the working group to design a survey for CFA UK membership to provide their collective view on the relevant issues.
The purpose and activity of this working group is to:
Who are CFA UK looking for?
What will you get out of it?