Next year likely to be 'difficult' for directors
Directors, management and trustees are likely to face increasing difficulty with financial reports over the next 12 months, as annual reports and accounts are more likely to misreport facts and circumstances and contain unidentified errors, the financial regulator has warned.
The Financial Reporting Council says that although the current economic outlook appears to be less depressed than it was this time last year, experience has highlighted that companies are still at risk of insolvency following a technical end to the recession.
The regulator has said audit committees will need to focus on the risks that happen as companies change their business models to help manage through the recession, which could involve modifying pension funds.
See full Article.
Posts
