Strategic Report: Difference between revisions
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''Financial reporting.'' | ''Financial reporting.'' | ||
All UK companies, that are not small, are required to prepare a Strategic Report. | All UK companies, that are not small, are required to prepare a Strategic Report. | ||
This is a requirement of the UK Companies Act 2006 (Strategic Report and Directors' Report Regulations) [http://www.legislation.gov.uk/ukdsi/2013/9780111540169/part/2]. | |||
The Strategic Report must contain a fair and balanced analysis of: | |||
a) the development and performance of the company’s business during the financial year; <br> | |||
b) the position of the company at the end of the year; and, <br> | |||
c) a description of the principal risks and uncertainties facing the company. | c) a description of the principal risks and uncertainties facing the company. | ||
| Line 14: | Line 15: | ||
The Strategic Report replaces the Operating and Financial Review/Business review section of the Annual Report. | The Strategic Report replaces the Operating and Financial Review/Business review section of the Annual Report. | ||
The Strategic Report is required in addition to the Directors' Report. | |||
==See also== | ==See also== | ||
* [[Annual report]] | *[[Annual report]] | ||
*[[Directors report]] | *[[Directors report]] | ||
*[[Risk reporting]] | |||
*[[Statutory duty]] | |||
* [[The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022]] - UK | |||
==Other | ==Other resource== | ||
*[https://www.frc.org.uk/ | * [https://www.frc.org.uk/accountants/accounting-and-reporting-policy/clear-and-concise-and-wider-corporate-reporting/narrative-reporting/guidance-on-the-strategic-report FCA Guidance on the Strategic Report] | ||
[[Category: | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category: | [[Category:Compliance_and_audit]] | ||
Latest revision as of 23:46, 26 July 2022
Financial reporting.
All UK companies, that are not small, are required to prepare a Strategic Report.
This is a requirement of the UK Companies Act 2006 (Strategic Report and Directors' Report Regulations) [1].
The Strategic Report must contain a fair and balanced analysis of:
a) the development and performance of the company’s business during the financial year;
b) the position of the company at the end of the year; and,
c) a description of the principal risks and uncertainties facing the company.
The purpose of the Strategic Report is to inform members of the company and help them assess how the directors have performed their duties.
The Strategic Report replaces the Operating and Financial Review/Business review section of the Annual Report.
The Strategic Report is required in addition to the Directors' Report.
See also
- Annual report
- Directors report
- Risk reporting
- Statutory duty
- The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 - UK
