The FRC has published a discussion paper on the opportunities for the future of digital reporting. Responses to the paper will help inform the workplans of the FRC and other regulators interested in digital reporting in the UK, including Companies House and the FCA, rather than triggering specific action by these bodies.
The paper follows the changes made by the FCA to the digital reporting requirements in DTR 4 in the light of Brexit (see our blog post here) and the powers contained in the Economic Crime and Corporate Transparency Act 2023 which will permit Companies House to mandate the tagging of company accounts.
The issues considered in the paper include:
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the scope and extent of digital reporting requirements;
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developments in taxonomies used for tagging reports; and
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the assurance regime for digital tagging.
The deadline for responding to the discussion paper is 1 November 2024.
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