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Smaller listed and AIM quoted companies - a practical guide for audit committees on improving financial reporting
This article was first published in By All Accounts, the Financial Reporting Faculty’s magazine, in July 2019. For more information about the Faculty, please visit icaew.com/frf.
Designed to give investors, and other users, the ability to assess the financial integrity of a company, financial reporting and compliance with relevant reporting frameworks is an essential tool for holding management to account. More than this, high quality financial reporting can contribute to a strong and efficient economy by improving transparency and liquidity and thereby lowering the cost of capital [1].
[1] These themes are explored in more detail in the Faculty’s 2017 thought leadership report Growth, development and accounting: seeing the bigger picture. This report can be downloaded at icaew.com/bettermarkets