16 September 2019

FRC´s Letter to firms - EU exit preparations

To assist with preparations for the UK's exit from the EU, the FRC is writing to Audit Committee Chairs and Finance Directors setting out some of the generic actions companies should consider in advance of the UK’s exit.

This letter suggests a small number of the most critical generic actions companies should consider in advance of the UK’s exit from the EU.

1) Ask your employees to check if they need to apply to the EU Settlement Scheme  

2) Check whether your business may face additional legal, regulatory and/or administrative barriers as a result of the UK becoming a ‘third country’ in the event of a ‘no deal’ EU exit

3) Ensure your suppliers and customers have considered the impact of and are prepared for the UK’s exit from the EU

4) Engage with your local chambers of commerce or business advisor and attend a Brexit Business Readiness event

5) Corporate reporting in preparation for exiting the EU

Full letter on FRC

© FRC