An easy way of publishing your relevant EU press releases.

ACCA responds to the UK FRC’s Future of Corporate Reporting Discussion Paper


09 Oct 2020



Issued today, with a deadline of the 5 February 2021, the FRC’s Future of Corporate Reporting Discussion Paper is a timely consultation, says ACCA’s head of corporate reporting, Richard Martin:

‘We welcome the FRC’s Discussion Paper (DP), and believe it is timely following the various audit reform reviews happening in the UK over the recent years.

‘It’s very positive to see that the FRC’s DP definition of corporate reporting recognises the importance to inform through corporate reporting the wider stakeholders in addition to shareholders and investors. It is also very positive to note that the DP emphasises the importance of non-financial reporting - this follows a number of developments currently happening in this area globally, nodding to initiatives in reporting outside the financial statements, such as from the European Commission, World Economic Forum, the Statement of Intent from the group of 5 and from the IFRS Foundation. These are looking at the content of such reporting and how standards should be set for that reporting.

‘This piece from FRC considers more how changes to the structure / form of that reporting might help to improve it. It is therefore complementary, but of course there are areas of overlap with these other initiatives such as the intended audience and assessing materiality.  

‘The proposals appear to be rightly looking forward and thinking about longer term developments and so is not responding to some of the more specific issues from the Brydon report for example.

‘ACCA will be responding in full and formally in due course and this will be published in the public domain.’

- Ends -

Contact: Helen Thompson, ACCA newsroom –

+44 (0)7725 498 654

About ACCA:

ACCA is the Association of Chartered Certified Accountants. We’re a thriving global community of 227,000 members and 544,000 future members based in 176 countries and regions that upholds the highest professional and ethical values.

We believe that accountancy is a cornerstone profession of society that supports both public and private sectors. That’s why we’re committed to the development of a strong global accountancy profession and the many benefits that this brings to society and individuals.

Since 1904 being a force for public good has been embedded in our purpose. And because we’re a not-for-profit organisation, we build a sustainable global profession by re-investing our surplus to deliver member value and develop the profession for the next generation.

Through our world leading ACCA Qualification, we offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. And using our respected research, we lead the profession by answering today’s questions and preparing us for tomorrow. Find out more about us at