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Smaller listed and AIM quoted companies: how to improve financial reporting

This guide, written in association with the Financial Reporting Council, offers advice for audit committees and boards of smaller quoted companies on evaluating the adequacy of a company’s financial reporting function and process. With improvement, audit committees can bring about a step change in the quality of financial reporting. 

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This guide offers:

  • suggested questions designed to encourage the company to reflect on current financial reporting practices and consider areas for improvement; and  
  • practical, cost-effective tips on how smaller listed companies and AIM quoted companies can improve the quality of financial reporting.

Acknowledging that smaller quoted companies face specific challenges, such as constraints on time and resources within finance departments, the audit committee can play a useful role in helping to effect change. By asking the right questions at the right time and implementing small changes, audit committees can nurture a culture of improvement.