Government Financial Reporting Manual consultation
Seeking views on revisions to the financial reporting manual, which gives guidance for those preparing government annual reports and accounts.
Detail
The financial reporting manual (FReM) is the statutory guidance for government bodies preparing annual reports and accounts, which:
- sets out principles for financial reporting
- gives guidance on performance reporting and the accountability disclosures for government bodies
- adopts and interprets International Financial Reporting Standards for use in the UK public sector
- gives further guidance as necessary, for example relating to the preparation and publication of the UK Whole of Government Accounts
HM Treasury publishes and updates the FReM on an annual cycle, overseen by the independent Financial Reporting Advisory Board (FRAB).
The revisions have been proposed in light of The government financial reporting review and a thematic review of the Statement of Parliamentary Supply (SoPS). They reflect feedback from those who use public sector annual reports and accounts, as well as those who prepare them.
Documents