Financial Reporting Council Publishes Update for Directors of UK Listed Companies on Responding to Increased Country and Currency Risk in Financial Reports

January 23, 2012
The UK’s Financial Reporting Council recently published updated guidance for directors of UK listed companies on how they should be reflecting the increased country and currency risk they may be exposed to as result of the global economic crisis in their periodic, interim and annual financial reports. The FRC identifies a number of issues that directors may need to consider and provides examples of how a company’s legal and regulatory reporting requirements could be affected by current economic uncertainties. This Dechert OnPoint summarises the principal aspects of the FRC’s recommendations for directors.