The UK Department for Business and Trade (DBT), in collaboration with the Financial Reporting Council (FRC), has issued a call for evidence to support the review of the UK’s non-financial reporting requirements.
The Financial Reporting Council (FRC) has released the Audit Committees and the External Audit: Minimum Standard, designed to enhance audit quality and reinforce public trust in the financial reporting process. The standard provides clear expectations and guidelines for audit committees within the FTSE350, supporting the delivery of high-quality audits.
Rebecca Jackson, director of the UK’s Prudential Regulation Authority (PRA), recently delivered a speech at the Association Of Foreign Banks Mansion House Lunch, shedding light on the PRA’s approach to data regulation and supervision in the financial industry.
At the recent Innovate Finance Global Summit, Jessica Rusu, Chief Data, Information, and Intelligence Officer of the UK’s Financial Conduct Authority (FCA), delivered a speech highlighting the importance of innovation, AI, and data-driven regulation in the future of finance.
The UK Government recently published its new Green Finance Strategy, outlining its goal to become the world’s first net-zero financial centre. The strategy includes updates on greenhouse gas reporting, net-zero transition plans and associated disclosures, and the expected implementation of the International Sustainability Standards Board (ISSB) standards.
The UK’s Financial Reporting Council (FRC) has identified digital reporting and tagging, including of ESG (Environmental, Social, and Governance) information, as a high priority area for its technology and digital strategy.
The UK’s Financial Conduct Authority (FCA) has received positive feedback on its proposals to improve sustainability information available to investors. The proposals aim to build trust in sustainable investment products and to help consumers make better-informed decisions when navigating the market.
The Bank of England (BoE) has recently published the latest updates for those following the initiative it is leading together with the Financial Conduct Authority (FCA) to transform data collection in the UK financial sector.
The UK Financial Reporting Council’s Lab – designed as a workshop space for investors and companies to work together on solutions for reporting needs – has published its latest insight into emerging artificial intelligence in reporting.
The UK’s Levelling Up, Housing and Communities Committee (LUHCC) is launching an inquiry into financial reporting and audit in local authorities following calls for more understandable local authority financial statements.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
