Companies: Disclosure of Information
(asked on 15th September 2016) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effectiveness of the Financial Reporting Council's operating and enforcement procedures for reviewing corporate disclosures in deterring companies from breaking the law on such disclosures.
The government consulted on its plans to reform the structure and content of the non-financial (narrative) section of the annual report and accounts in 2011. As part of this consultation, the government asked about the remit of the Financial Reporting Council, especially the Financial Reporting Review Panel, now known as the Conduct Committee.
As part of their work to monitor compliance with the legal requirements concerning disclosure, the Conduct Committee publishes an annual report summarising the activity and findings of their review function. This annual activity report can be viewed from the FRC website: