Author: Judy Pink

FRC calls for improvement in reporting on provisions, contingent liabilities and contingent assets

The Financial Reporting Council has published a thematic review on reporting on provisions, contingent liabilities and contingent assets as required by IAS 37 (Provisions, Contingent Liabilities and Contingent Assets). This summarises the findings of the FRC's review of the 2020/21 disclosures by 20 companies listed on the Main Market of the London Stock Exchange.