30/05/2024
Overview of Non-Financial Regulatory Reporting (NFRR)
Non-Financial Regulatory Reporting (NFRR), as the name suggests, refers to the non-financial reports that are required to be submitted by firms to the regulator or published for certain stakeholder groups. There are two key aspects – 1) non-financial; and 2) Regulatory reporting. The word ‘non-financial’ here refers to all reports which are not financial in nature. Usually, they originate outside of the finance function of a firm and include reports such as compliance reports, transactional reports and other reports which do not contain financial data. It is possible that the reports can originate from the financial department but yet it might be of non-financial nature. So, the origination of the report is not important, what is important is that the report is non-financial in nature and/or is classified by the regulators as non-financial. The second aspect “regulatory reporting” means that these are mandated by the regulator(s). There can be many reports that a firm publishes but under NFRR we are only concerned with those reports that are mandated to be reported. In most cases, reporting means sending a report to the regulator but certain reports need not be sent to the regulator, they are required to be published for public or specific stakeholder group consumption purposes.
Non-Financial Regulatory Reporting (NFRR), as the name suggests, refers to the non-financial reports that are required to be submitted by firms to the regulator or published for certain stakeholder groups. There are two key aspects – 1) non-financial; and 2) Regulatory reporting. The word ‘non-f...
