Taking Stock 

The quality of company reporting

The quality of company reporting

In the wake of several high-profile company collapses last year – Carillion, Conviviality and House of Fraser – and another victim already this year – Patisserie Valerie – the quality of company reporting is in debate once more. Rhetoric from the Financial Reporting Council (FRC) has been consistently tough, but often ineffectual in promoting improved reporting. But last October – perhaps prompted by the estimated cost of the Carillion collapse to UK taxpayers (£148m, according to The National Audit Office) – the FRC decided to update its 2017 business model reporting review.

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