In January 2024, the Financial Reporting Council (FRC) issued its latest thematic review covering the quality of reporting in the United Kingdom’s largest private companies. The review focuses on the areas of most importance to stakeholders and those areas where they expect to see the highest risk of noncompliance. The FRC believes improvements can be achieved if a step back is taken to consider the entire report, not just from a shareholder perspective but from the perspective of investors, creditors, customers, employees and other stakeholders.

In this article, Audit Analytics further examines areas of improvement in reporting by the U.K.’s largest private companies.