FRC issues alternative performance measures guidance
THE FRC has published a guidance document for listed businesses and their advisers concerned by the European Securities and Markets Authority’s (ESMA) guidelines on alternative performance measures.
It includes FAQ’S tackling what APMs are, compliance monitoring and the definition of responsibility between the FRC and FCA.
Commencing 3rd July 2016, the guidelines are to be applied:
- By companies with listed shares or debt when presenting APMs outside the financial statements in annual reports.
- Half-yearly reports or preliminary announcements.
- Other ad-hoc communications, such as RNS announcements and press releases In the event that APMs are presented in an annual report, compliance with the guidelines will ensure that, taken as a whole, it is fair, balanced, comprehensive and understandable.
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