Newsflash – FCA extends reporting deadline for interims

May 2020

The FCA has confirmed additional relief for listed companies facing the challenges of corporate reporting during the COVID-19 pandemic.

This temporary relief will permit listed companies an additional month in which to publish their half yearly financial reports. Currently, under the Transparency Directive, listed companies are required to publish half yearly financial reports no later than 3 months from the end of the period to which the report relates.

This extension will be kept under review and once the current disruption subsides, the FCA will announce how the policy will be removed in a fair, orderly and transparent way.

The bulletin emphasises the importance of market participants, including intermediaries, not drawing unduly adverse inferences from issuers changing their financial calendars to make use of the extra time allowed.

The FCA has also taken the opportunity to remind investors and intermediaries that may must take steps to understand disclosures made by auditors in relation to the going concern assessment and react appropriately. The Financial Reporting Council published guidance on the meaning of the various additional disclosures auditors may include in their reports.

Read the full bulletin here.

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