FRC calls for sharper focus on digital reporting quality
The UK’s Financial Reporting Council (FRC) has published its latest structured digital reporting review, identifying areas where straightforward improvements could raise the quality, consistency and usability of companies’ digital filings.
The report draws on a detailed review of UK listed companies’ 2024/25 annual reports, alongside broader market analysis and engagement with preparers, software providers and other stakeholders. The FRC found that while structured digital reporting is well embedded across the market, with most companies producing compliant filings, more complex areas still require attention. The report emphasised that these often-avoidable issues can be addressed through stronger review processes, clearer ownership of tagging decisions, and better use of existing guidance and tools.
High-quality structured data plays an important role in UK capital markets, particularly as data-driven analysis and artificial intelligence tools become more widely used to inform investment decisions.
For preparers and their advisers, the practical improvements outlined in this report are well worth taking seriously. With an excellent summary of the findings provided by Kashi Booluck yesterday, on day two of the Digital Reporting Europe conference in Paris, you can also catch up with the FRC’s findings in the recorded video of the event, coming soon.
