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Clear & Concise Reporting

The Accounting and Reporting Policy team (ARPT) has a number of projects underway that form part of the FRC’s broader Clear & Concise reporting initiative. The current key activities relating to the ARPT are:

  • Narrative reporting, including the Guidance on the Strategic report and the implementation of the EU Directive on Non-financial reporting; and
  • Disclosure framework  – this includes our thought leadership work in this area; as well as our activities relating to influencing the IASB.

A full programme of Clear & Concise reporting related activities across the FRC is available at
Clear & Concise: the journey to high quality corporate reporting

In January 2015, the FRC held a round table discussion to discuss the benefits and perceived barriers of Clear & Concise (C&C) reporting. Please see a summary of the event below. NB This event was held under the Chatham House rule.

 Clear & Concise: the journey to high quality corporate reporting

Clear & Concise event in Brussels 2015

In January 2015, the FRC held an event in Brussels to discuss its Clear & Concise programme, and how its various branches fit in with developments in Europe. Please find the presentation from this event below. 

 Clear & Concise event: Shaping the future of financial and non-financial reporting in Europe 

Cutting clutter

Cutting clutter is positioned as a key thread of the Clear & Concise reporting initiative.

FRC guidance and thought leadership papers

Clear & Concise:  Developments in Narrative Reporting

Guidance on the Strategic Report

Thinking about disclosures in a broader context: a roadmap for a disclosure framework

Cutting clutter

Louder than words 

Influencing developments in corporate reporting

One of the aims of the Clear & Concise reporting initiative is to ensure that information in annual reports is relevant for investors.  With that in mind, the ARPT has recently responded to a number of consultation documents that relate to disclosures.
FRC response to IIRC on the implementation of the International Integrated Reporting Framework (IR) April 2017
Response to Task Force on Climate-related Financial Disclosures on its Phase I Report April 2016
Response to European Commission on 
Non-Binding Guidelines for Reporting Non-Financial Information by Companies
April 2016
Response to BIS on The Non-Financial Reporting Directive: A call for views on effective reporting alongside proposals to implement EU requirements April 2016
Response to Government consultation on Draft Regulations on Gender Pay Gap Reporting March 2016
Response to IASB Exposure Draft ‘IFRS Practice Statement (Application of Materiality to Financial Statements)’ January 2016
Response to HMRC consultation - Improving Large Business Tax Compliance 
October 2015
Response to the IASB Exposure Draft ‘Disclosure Initiative (Proposed Amendments to IAS 7)’ March 2015
IOSCO Proposed Statement on Non-GAAP Financial Measures November 2014
Final response EC Strategy on CSR August 2014
Response to the IASB Exposure Draft ‘Disclosure Initiative (Proposed amendments to IAS 1) July 2014
IASB Request for Information on the Application of Materiality June 2014
ESMA Guidelines Alternative Performance Measures May 2014
IIRC Consultation Draft International Integrated Reporting Framework July 2013


Project Director, Deepa Raval:
Project Director, Rosalind SzentpĂ©teri:
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