Risk Management Disclosure Practices of UK Non-Financial Firms after Frs 13

30 Pages Posted: 19 Jun 2002

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Amrit Judge

Middlesex University - Business School

Ephraim Clark

Middlesex University Business School

Multiple version iconThere are 2 versions of this paper

Date Written: November 2001

Abstract

In the United Kingdom Financial Reporting Standard (FRS) 13 requires narrative and numerical disclosure of all financial instruments held or issued, in order to provide information about their impact on the entity's risk profile. FRS 13 came into force for March 1999 year-ends.

Under FRS 13 firms are required to disclose various details of the carrying amounts of financial liabilities and assets. In particular firms must specify the currency in which liabilities and assets are held, and show separately those liabilities and assets at fixed interest rates, those at floating interest rates and those on which no interest is paid. This data enables the determination of the proportion of a firm's debt that is fixed or floating and a firm's foreign currency debt mix.

This paper presents the initial results from a detailed analysis of these risk management disclosures in the annual reports of 100 UK non-financial firms for the period March 1999 to December 1999.

Suggested Citation

Judge, Amrit and Clark, Ephraim, Risk Management Disclosure Practices of UK Non-Financial Firms after Frs 13 (November 2001). EFMA 2002 London Meetings. Available at SSRN: https://ssrn.com/abstract=314376 or http://dx.doi.org/10.2139/ssrn.314376

Amrit Judge (Contact Author)

Middlesex University - Business School ( email )

The Burroughs
London, NW4 4BT
United Kingdom
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020 8411 4739 (Fax)

HOME PAGE: http://mubs.mdx.ac.uk/Staff/Personal_pages/Amrit1/index.htm

Ephraim Clark

Middlesex University Business School ( email )

The Burroughs
London, NW4 4BT
United Kingdom

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