FRC thematic review: climate-related financial disclosures by AIM and large private companies
On 21 January 2025, the Financial Reporting Council (FRC) published a thematic review of climate-related financial disclosures (CFD) by AIM and large private companies, following the first cycle of mandatory reporting. For accounting periods beginning on or after 6 April 2022, the Companies Act 2006 (Act) requires mandatory CFD by entities with more than 500 employees which are either:
traded, banking, insurance or AIM companies;or
private companies or LLPs with turnover exceeding £500m.
The FRC review found that, while preparers have endeavoured to meet the CFD requirements, there was inconsistent quality among the companies selected. The report sets out examples of good practice and identifies areas where preparers can provide more consistent, coherent and concise disclosures.
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