Audit Watchdog Demands Transparency In Financial Reports

Law360, London (October 30, 2019, 1:00 PM GMT) -- A top British regulator published new recommendations Wednesday for how companies should report their results to investors, saying that they must follow stricter rules to help build public trust in times of political and environmental uncertainty.

The Financial Reporting Council, a U.K. regulator overseeing auditors and accountants, said in an open letter to finance directors and the heads of company audit teams that it expects corporations to be more transparent in their financial projections. It also wants greater openness in their reporting on the potential impact of risk and their disclosure of the value of their assets.

“Investors and the general public rightly...

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