A highly useful new report from the UK Financial Reporting Council’s Financial Reporting Lab aims to support companies in the move towards high-quality digital reporting.
The UK Financial Reporting Council (FRC) has published its final suite of updated taxonomies for 2022, having released them for consultation in August. The most notable change is the integration of the Streamlined Energy and Carbon Reporting (SECR) taxonomy, used for mandatory emissions reporting.
If you are engaged in environmental, social, and governance (ESG) reporting in the UK, you may like to get in touch with Financial Reporting Council’s Financial Reporting Lab. It is seeking companies, service and systems providers, investors and any other interested parties to participate in a new project looking at how companies produce ESG data.
We were interested to note a strong emphasis on data in a recent speech by Nikhil Rathi, CEO of the UK’s Financial Conduct Authority (FCA), on challenges and priorities for the organisation.
The Financial Reporting Council (FRC) Financial Reporting Lab has published the results of a survey carried out in May 2021.
The UK’s Streamlined Energy and Carbon Reporting (SECR) rules, which came into effect from 1 April 2019, provide an interesting example of mandatory climate reporting and potential insights for other jurisdictions implementing similar regimes.
The Bank of England’s financial watchdog, the Prudential Regulation Authority (PRA), has written to company CEOs discussing recent findings on the reliability of regulatory reporting, decrying poor practices, and reiterating its supervisory expectations.
The Bank of England is shifting from XML to XBRL for the collection of significant amounts of statistical data.
Tucked into Chapter 8 of the Financial Conduct Authority (FCA) Quarterly Consultation are proposals to allow UK issuers to use a wider range of XBRL taxonomies.