FRC Seeks Feedback on UK taxonomy
Enhancing the quality and accessibility of financial reporting is a core objective of the UK’s Financial Reporting Council, the UK’s audit regulator and financial standards setter. The FRC also has a full time taxonomy team, who look after the UK taxonomies for filing to that country’s tax authority, companies registrar and charities commission. (Public company filing will fall under the ESEF mandate from 2021.)
The FRC is looking for comments on the latest taxonomy, which covers a raft of changes to IFRS accounting standards as well as a number of smaller changes.
Consultation on the amendments closes on 28 August 2018.
Read more here.