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Key points

The FRC issued its thematic review on Discount Rates on 16 May 2022. Their review report sets out findings as well as expectations that the FRC has when companies are discounting cash flows.
The scope of the FRC review was on companies applying IFRS, but the principles will equally apply to UK GAAP reporters. In fact, entities in all industries and irrespective of their legal form should consider this guidance.
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