The Financial Reporting Manual (FReM) is the technical accounting guide that complements guidance on the handling of public funds published separately by the relevant authorities. The Manual is prepared following consultation with the Financial Reporting Advisory Board and is issued by the relevant authorities in England and Wales, Scotland and Northern Ireland.
To the extent that disclosure requirements rely on Generally Accepted Accounting Practice only, the guide might also be used for other accrual based accounts.
This fact sheet highlights the key changes in the HM Treasury-published Financial Reporting Manual (FReM).
This briefing was prepared for the Environmental Audit Committee. It reviews central government compliance with the mandatory sustainability reporting requirements for 2011-12 Annual Reports and Accounts, and sets the findings in the context of public and private sector reporting developments.