The FCA and FRC have issued a statement reminding companies of the measures issued in 2020 that provide more time for the work necessary to ensure that published financial information continues to be of the quality that preparers and users of financial information expect. These include allowing listed companies an additional two months to publish their audited annual financial reports.
“This is because we recognise that we are now in the busiest period of the year for preparing, auditing and publishing financial information. This has coincided with further restrictions imposed through the recent national lockdowns in the UK,” says the statement. “The FCA and FRC would like to encourage all stakeholders including in particular boards of listed companies to (1) re-familiarise themselves with the measures and (2) use them in light of any resourcing constraints in finance and/or audit teams to ensure the quality of reporting is not compromised during this period.”