Here in the UK, a raft of new measures have been introduced by the government to support businesses, and financial regulators hope to do the same with their own set of measures in order to ensure high-quality reporting and auditing can be assured to investors and stakeholders in a timely fashion.
As such, three major regulators in the UK have released a joint statement regarding actions to address the challenges posed by the coronavirus pandemic.
The actions come from the Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA) to ensure information continues to flow to investors and support the continued functioning of the UK’s capital markets. These include:
The three regulators also urge users of financial statements to take into account the potential delays and uncertainties surrounding this unique situation.
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