The Financial Reporting Council (FRC) has published a new Exposure Draft, “Going Concern and Liquidity Risk: Guidance for Directors of UK Companies”. This Exposure Draft, aimed at company directors, offers a practical approach to making a going concern assessment and then making appropriate disclosures.

This new Exposure Draft replaces the FRC’s 1994 Guidance, “Going Concern: guidance for directors of listed companies”, taking in 2008 updates: “Going Concern and Financial Reporting: Proposals to revise the guidance for directors of listed companies” and “Going Concern and Financial Reporting: An Update for Directors”. The Exposure Draft is available on the FRC website (PDF).

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