The “unprecedented events” surrounding the coronavirus pandemic have forced the Financial Conduct Authority (FCA) to request that companies delay the publication of preliminary financial statements, many of which were due over the coming days.
In a statement published late on Saturday night (21 February) the regulator asked firms to observe a moratorium on publication "for at least two weeks" as the "basis on which" firms are reporting is "changing rapidly" and it is therefore important that "due consideration" is given when preparing those disclosures. The practice of issuing preliminary financial statements is common among UK-listed companies with the requirement that they publish full audited financial statements within four months of the financial year end. While it is common practice to publish preliminary financial s...
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