FRC’s exposure draft: Going concern and liquidity risk: Guidance for directors of UK companies - ACT response

28 August 2009

The ACT thought that the FRC’s move last year to issue the interim guidance on this subject was very helpful.

We think that the draft Guidance (available at http://www.frc.org.uk/publications/pub1989.html) is again very helpful and timely in the present economic conditions and for the future, whatever the shape of the recovery. The clear language and realistic approach to the position of directors considering the going concern question are welcome.