Research on preparers' use of FRS 101 Reduced Disclosure Framework
Published
Value
Description
The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. The FRC is also a prescribed body for issuing accounting standards in the UK and Republic of Ireland. The FRC's overriding objective in setting accounting standards is to enable users of accounts to receive high-quality, understandable financial reporting proportionate to the size and complexity of the entity and users' information needs. This research project will engage with UK companies to gather data about their use of a particular UK accounting standard: FRS 101 Reduced Disclosure Framework. However, the project will not require the successful contractor to have specialist knowledge of accounting. PURPOSE AND OBJECTIVES (1) Groups applying FRS 101 The research will collect information from groups of companies that have chosen to apply FRS 101 in the preparation of UK qualifying entities' financial statements. For these groups, below is a snapshot of what we would like to know: a) the most significant reasons for preparers' choice to apply FRS 101 to the financial statements of qualifying group entities, and who (i.e. which job function) made this decision; b) which of the FRS 101 disclosure exemptions preparers consider to be useful, less useful, and why; (2) UK listed groups not applying FRS 101 The research will also engage with UK listed groups that could have chosen to apply FRS 101 in the preparation of qualifying entities' financial statements but did not do so. For these groups, below is a snapshot of what we would like to know: a) the most significant reasons why UK listed groups choose not to apply FRS 101, and who (which job function) makes this decision; b) what, if any, changes to FRS 101 would make these preparers likely to consider applying FRS 101 in the future and why these changes would be beneficial; and The research will identify prevalent views and concerns of UK listed groups. It should therefore include a sufficient number of participants of each type to ensure that prevalent views are identified. The FRC will consider significant matters identified by the research in more detail and may seek further evidence through its own stakeholder consultation and outreach activities. The research population will be UK groups listed on the London Stock Exchange Main Market (LSE MM - comprising FTSE 100 and FTSE 250 constituents, plus smaller main market listed entities) and the London Stock Exchange Alternative Investment Market (LSE AIM). In total this is expected to be approximately 2,000 groups. The FRC would like to collect information from across this population. The FRC will provide the appointed contractor with a definitive list to form the basis of the research population, having first removed listed entities which do not file group accounts and which are therefore assumed not to qualify to use FRS 101. PLEASE REFER TO THE ITT FOR FULL DETAILS. Additional information: Note: • Download and review the documents; • Observe the timelines and tender process • Register your interest in this opportunity by email to Procurement@frc.org.uk • You will need to register your interest in this opportunity to receive the Q&A responses. • The FRC does not anticipate bids exceeding £72,000 incl. VAT.
Timeline
Publish date
a month ago
Close date
17 days ago
Buyer information
THE FINANCIAL REPORTING COUNCIL LIMITED
- Contact:
- Head of Procurement
- Email:
- procurement@frc.org.uk
Explore contracts and tenders relating to THE FINANCIAL REPORTING COUNCIL LIMITED
Go to buyer profileSource
Contracts FinderTo save this opportunity, sign up to Stotles for free.
Save in appTender tracking
Access a feed of government opportunities tailored to you, in one view. Receive email alerts and integrate with your CRM to stay up-to-date.
Proactive prospecting
Get ahead of competitors by reaching out to key decision-makers within buying organisations directly.
360° account briefings
Create in-depth briefings on buyer organisations based on their historical & upcoming procurement activity.
Collaboration tools
Streamline sales workflows with team collaboration and communication features, and integrate with your favourite sales tools.
Explore similar tenders and contracts
Browse open tenders, recent contract awards and upcoming contract expiries that match similar CPV codes.
- Openclosing
Western Gateway - Severn Estuary Commission Request for Proposals: Socio-economic
Western Gateway100,000 GBPPublished 3 days ago
- Openclosing
NCC1331 Holy Island Sustainable Travel and Transport Study
Northumberland County Council60,000 GBPPublished 4 days ago
- Openclosing
Western Gateway - Severn Estuary Commission Request for Proposals: Socio-economic
South Gloucestershire Council100,000 GBPPublished 4 days ago
- Openclosing
Phase 2 Tees Tidelands Footpath Crossing: Working in partnership to deliver Green Infrastructure
Natural England9,250 GBPPublished 5 days ago
- Openclosing
Northern Land Use and Transport Interaction Model (LUTI)
Transport for the NorthPublished 5 days ago
- Openclosing
Building and Safety Regulation - Research and Evaluation Framework
GOV11,000,000 GBPPublished 6 days ago
- Openclosing
Building and Safety Regulation - Research and Evaluation Framework
GOV11,000,000 GBPPublished 6 days ago
- Openclosing
Establishing the Housing Requirement for Lancaster District Tender Brief
Lancaster City Council1 GBPPublished 6 days ago
- Openclosing
Services to Support Educational Attainment
East Ayrshire Council12,000,000 GBPPublished 6 days ago
Explore other contracts published by THE FINANCIAL REPORTING COUNCIL LIMITED
Explore more open tenders, recent contract awards and upcoming contract expiries published by THE FINANCIAL REPORTING COUNCIL LIMITED.
- Openclosing
Legal Services Framework Agreement
THE FINANCIAL REPORTING COUNCIL LIMITED2,040,000 GBPPublished 24 days ago
- Openclosing
Legal Services Framework Agreement
THE FINANCIAL REPORTING COUNCIL LIMITED2,290,000 GBPPublished 24 days ago
- Closed
Company and organisational data explorer - toolkit sandbox
THE FINANCIAL REPORTING COUNCIL LIMITED174,000 GBPPublished 2 months ago
- Closed
Research Services : Research on UK Defined Contribution Pension Scheme Default Investment Strategies
THE FINANCIAL REPORTING COUNCIL LIMITED47,000 GBPPublished 3 months ago
- Closed
Levy Collection Services
THE FINANCIAL REPORTING COUNCIL LIMITED406,479 GBPPublished 3 months ago
- Closed
Levy Collection Services
THE FINANCIAL REPORTING COUNCIL LIMITED400,000 GBPPublished 3 months ago
- Closed
Financials Markets data platform
THE FINANCIAL REPORTING COUNCIL LIMITED825,000 GBPPublished 3 months ago
- Closed
Development of CODEx Inline XBRL viewer
THE FINANCIAL REPORTING COUNCIL LIMITED150,000 GBPPublished 3 months ago
Explore more suppliers to THE FINANCIAL REPORTING COUNCIL LIMITED
Sign upExplore top buyers for public sector contracts
Discover open tenders, contract awards and upcoming contract expiries of thousands of public sector buyers below. Gain insights into their procurement activity, historical purchasing trends and more.
- Kirklees Council
- East Kent Hospitals University
- Chelsea & Westminster Hospital NHS Foundation Trust
- Corby Borough Council
- Daventry District Council
- Ministry of Defence, Ships, Maritime Combat Systems (MCS) Team
- GEM CSU
- National Council for Special Education
- West Yorkshire Consortium of Colleges
- Whitehill Town Council
- Simon Langton Girls' Grammar School
- Emmanuel Schools Foundation
Explore top sources for public sector contracts
Stotles aggregates public sector contract data from every major procurement data source. We ingest this data and surface the most relevant insights for our users. Explore our list of public sector procurement data sources below.