The Financial Reporting Council has published draft guidance for directors of UK companies on going concern and liquidity risk.rnWhile going concern requirements are referred to in both UK GAAP and International Financial Reporting Standards, these provide little guidance on the process that should be undertaken or how to link together the various disclosure requirements about going concern and liquidity risk that they require. The FRC acknowledges this is an issue that would benefit from more up-to-date guidance and has therefore published this draft, which is intended to assist directors of all UK companies (including those which adopt the Financial Reporting Standard for Smaller Entities).
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