Narrative Reporting

House of Lords written question – answered at on 25 March 2009.

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Photo of Lord Sharman Lord Sharman Spokesperson for Business, Enterprise and Regulatory Reform

To ask Her Majesty's Government what guidance is produced for companies on narrative reporting in the light of the financial crisis and the Climate Change Act 2008.

Photo of Baroness Vadera Baroness Vadera Parliamentary Under-Secretary (Economic Competitiveness and Small Business), Department for Business, Enterprise & Regulatory Reform, Parliamentary Secretary (Economic Competitiveness and Small Business), Cabinet Office

The Financial Reporting Council (FRC) is responsible for standards of corporate reporting and in that capacity issues guidance as well as monitoring compliance with the requirements of the Companies Act 2006. The FRC has recently issued guidance on various reporting issues to help companies with reporting in the present economic conditions. In line with Section 83 of the Climate Change Act, the Government are committed to producing guidance to help those reporting on their greenhouse gas emissions by 1 October 2009. The Department for Environment, Food and Rural Affairs will consult widely on the guidance prior to publication in September.

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