FRC publishes thematic review of companies’ viability and going concern disclosures

Article summary

The Financial Reporting Council (FRC) has published a report reviewing companies’ viability and going concern disclosures. In its thematic review, the FRC determines that, following the uncertainty caused by the coronavirus (COVID-19) pandemic, clear and detailed disclosures on viability and going concern prove vital. In addition, the regulator identifies areas where viability and going concern reporting could be improved. The FRC also encourages companies to extend the period over which they assess their viability and provide longer term information where possible.