Disclosure Guidance and Transparency Rules requirements—the annual financial report
Produced in partnership with Tessa Park of Moore Kingston Smith

The following Corporate practice note produced in partnership with Tessa Park of Moore Kingston Smith provides comprehensive and up to date legal information covering:

  • Disclosure Guidance and Transparency Rules requirements—the annual financial report
  • Background
  • Interaction with the Listing Rules
  • DTR 4—periodic financial reporting
  • Scope of DTR 4
  • The annual financial report
  • Audited financial statements
  • Management report
  • Responsibility statements
  • Publication of the annual financial report
  • More...

Disclosure Guidance and Transparency Rules requirements—the annual financial report

This Practice Note discusses the requirements of the Disclosure Guidance and Transparency Rules in relation to a company’s annual financial report and the related statutory regime. It also considers the requirements in relation to a company active in the extractive industries to file reports annually in relation to payments to governments.

As a result of Brexit a number of changes have occurred in relation to accounting periods beginning on or after 31 December 2020, some of which are referred to below.

Background

Companies subject to the Disclosure Guidance and Transparency Rules (DTRs) of the Financial Conduct Authority (FCA) must disclose and report on their financial information more promptly, more frequently and in greater detail than those companies that are subject solely to the provisions of the Companies Act 2006 (CA 2006).

This Practice Note summarises the requirements of the DTRs in relation to periodic financial reporting, focusing on the provisions of DTR 4 in relation to the publication of the annual financial report.

DTR 4, along with DTR 1A, DTR 5 and DTR 6, were added to what were then the Disclosure Rules (and were renamed the Disclosure Rules and Transparency Rules) on 20 January 2007 in order to implement certain parts of the Transparency Directive 2004/109/EC, which was intended to ensure investor confidence in levels of disclosure by issuers

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