General

Gather Around – Issue 22 – May 2021

1 June 2021

Regulatory activity has picked up again in May. The financial services regulators including the FCA, PRA, FRC and Bank of England have published their Regulatory Initiatives Grid covering the next 24 months. Plus, new practical guides on TCFD and ESEF.
While the FRC has published the results of two research projects into reporting against the UK Corporate Governance Code covering workforce engagement and remuneration reporting. The steady progress towards international sustainability standards also continues with the IFRS Foundation proposing a number of amendments to its constitution to allow for the establishment of an international sustainability standards board. For this month’s best practice showcase, we take a look at Barratt Developments’ 2020 annual report as an example of good reporting on workforce engagement.

In other news, we will be publishing two practical guides in June – one on ESEF and one on TCFD – both of which will be mandatory for accounting periods beginning on or after 1 January 2021. The practical guides will address the most frequently asked questions and will help you get ready for the new requirements ahead of next season.

We are also delighted to share that Mei Ashelford, Director of Reporting Intelligence has been appointed to the ICAEW (Institute of Chartered Accountants in England and Wales) Financial Reporting Faculty Board for a three-year term. The Financial Reporting Faculty helps guide its members through the current and emerging reporting requirements and provides them with high quality, up-to-date guidance, and online resources. The Faculty is also responsible for formulating ICAEW policy on financial reporting issues and makes submissions to standard setters and other external bodies on behalf of ICAEW.

Please get in touch with Rochelle O’Hagan at rochelle@gather.london if you are interested in receiving a copy of the newsletter.