Consultation on Guidance on the Going Concern Basis of Accounting and Related Reporting, including Solvency and Liquidity Risk
Published: 5 August 2024
Response deadline: 28 October 2024
| Title | Guidance on the Going Concern Basis of Accounting and Related Reporting Exposure Draft |
|---|---|
| Format | pdf, 482.1 KB |
In-page links
Overview
The FRC is consulting on proposals for revised 'Guidance on the Going Concern Basis of Accounting and Related Reporting, including Solvency and Liquidity Risk' (the draft Guidance). This would replace the FRC’s existing Guidance on the Going Concern Basis of Accounting and Reporting on Solvency and Liquidity Risk, issued in 2016.
The draft Guidance brings together the requirements and provisions of company law, accounting standards, auditing standards, listing rules, the UK Corporate Governance Code and other regulation relating to reporting on the going concern basis of accounting and solvency and liquidity risks.
It is intended to help companies in performing going concern assessments and in preparing company-specific disclosures about their going concern conclusions and how they were reached. The process should allow investors to understand a company’s exposure to and plans to navigate solvency and liquidity risks.
It includes a revised range of factors and techniques directors could consider when performing going concern assessments.
The consultation closed on 28 October 2024.
Outcome
Finalised as Guidance on the Going Concern Basis of Accounting and Related Reporting (including Solvency and Liquidity Risks) issued in February 2025.
| Name | Feedback Statement: Guidance on the Going Concern Basis of Accounting and Related Reporting (including Solvency and Liquidity Risks) |
|---|---|
| Publication date | 25 February 2025 |
| Type | Feedback paper |
| Format | PDF, 264.5 KB |
Consultation responses
| Title | 01 Hedlam Group plc response |
|---|---|
| Format | pdf, 788.7 KB |
| Title | 02 Forvis Mazars response |
| Format | pdf, 151.0 KB |
| Title | 03 ICAEW response |
| Format | pdf, 216.7 KB |
| Title | 04 ICAS response |
| Format | pdf, 253.5 KB |
| Title | 05 APA response |
| Format | pdf, 93.0 KB |
| Title | 06 QCA response |
| Format | pdf, 241.3 KB |
| Title | 07 EY response |
| Format | pdf, 9.1 MB |
| Title | 08 PwC response |
| Format | pdf, 252.1 KB |
| Title | 09 Haysmacintyre response |
| Format | pdf, 283.6 KB |
| Title | 10 Price Bailey response |
| Format | pdf, 690.0 KB |
| Title | 10 Price Bailey response |
| Format | pdf, 690.0 KB |
| Title | 11 Association of British Insurers response |
| Format | pdf, 635.1 KB |
| Title | 12 Deloitte response |
| Format | pdf, 206.5 KB |
| Title | 13 The Investment Association response |
| Format | pdf, 157.6 KB |
| Title | 14 KPMG response |
| Format | pdf, 167.9 KB |