The FCA and the FRC remind companies that extended financial information timelines continue to apply

From: RegTech Analyst

The measures put in place to ensure regulated businesses have enough time to publish audited financial reports are still valid, remind two UK regulators.

The Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority made a joint statement last year to encourage investors, lenders and other users of financial statements to take into account the unique set of circumstances that had arisen due to the pandemic.

Now, the FCA and the FRC remind ventures that these measures are still in place.

“This includes allowing listed companies an additional two months to publish their audited annual financial reports,” the regulators said in a joint statement. “This is because we recognise that we are now in the busiest period of the year for preparing, auditing and publishing financial information. This has coincided with further restrictions imposed through the recent national lockdowns in the UK.”

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