UK regulator updates guidance for company strategic reports

The FRC made changes to align its guidance for strategic reports with UK legislation on climate-related disclosures, public interest entities, and more.

Please note: This item is from our archives and was published in 2022. It is provided for historical reference. The content may be out of date and links may no longer function.

Bankers quit London as Brexit relocations to EU step up

The UK’s Financial Reporting Council (FRC) recently issued updated guidance for companies on their strategic report.

The FRC’s Guidance on the Strategic Report makes changes to the previous version issued in 2018 to incorporate the following:

  • Climate-related financial risks and opportunities, in line with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
  • The need for traded limited liability partnerships (LLPs) and banking LLPs to publish a strategic report.
  • Amendments to the definition of a public interest entity (PIE) to align it with existing legislation.
  • The UK government’s Streamlined Energy and Carbon Reporting (SECR) requirements.

The requirements that the guidance relates to have various effective dates. “The guidance is intended to serve as best practice when entities are applying the relevant legal requirements,” the FRC noted.

— To comment on this article or to suggest an idea for another article, contact Oliver Rowe at Oliver.Rowe@aicpa-cima.com.

Up Next

AI readiness, skills gaps top concerns of finance leaders

By Steph Brown
December 17, 2025
Eighty-eight per cent of finance professionals believe AI will be the most transformative tech trend over the next 12 to 24 months. Yet only 8% feel their organisations are “very well prepared” to manage it, a new AICPA and CIMA survey shows.
Advertisement

LATEST STORIES

Finance and cyber resilience

5 elements of an effective AI prompt

AI readiness, skills gaps top concerns of finance leaders

Expert advice for navigating challenges, changes, self-doubt

Legislation set to lower EU sustainability reporting threshold

Advertisement
Read the latest FM digital edition, exclusively for CIMA members and AICPA members who hold the CGMA designation.
Advertisement

Related Articles