financial reporting

[choi2000]

What are the regulatory framework governing financial reporting in the UK?

[Andromeda]

Choi, Companies Act 1985 is the main legislation for financial reporting in the UK. This is supported by a number of standards (which now mirror the international standards) issued by the [URL=www.asb.org.uk]ASB[/URL]. Published accounts have to comply to both these in order to pass the audit. Depending on the nature of the company there may be other regulations which apply - e.g. companies quoted on the [URL=www.londonstockexchange.com]London Stock Exchange[/URL] are subject to futher requirements, especially on the role of Corporate Governance and Internal Control.

Andy