cryptohunter
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For UK companies financial reporting follows the Companies Act 2006 and standards from the Financial Reporting Council (FRC).
Companies Act 2006 says they must make yearly financial statements---income, balance, and cash flow. It sets rules for how these should look, making sure all companies are on the same page.
UK companies also follow standards, usually UK GAAP or IFRS, based on size and type.
Bigger companies get audited yearly by registered auditors. This makes sure their financial statements are legit, boosting trust in the info they share.
Companies Act 2006 says they must make yearly financial statements---income, balance, and cash flow. It sets rules for how these should look, making sure all companies are on the same page.
UK companies also follow standards, usually UK GAAP or IFRS, based on size and type.
Bigger companies get audited yearly by registered auditors. This makes sure their financial statements are legit, boosting trust in the info they share.
