The UK watchdog calls for a “more agile approach” to corporate disclosures, with separate business, finances and public interest reports.
With all the talk of stakeholder interests in business it was only a matter of time before corporate reporting began to catch up. And so it has. This week sees the UK reporting watchdog issue proposals that will place the needs of the general public at the heart of company disclosures.
In a consultation document the Financial Reporting Council (FRC) proposes annual reports be split into three separate reports: a business report, a finances report, and, in its biggest departure from current reporting practices, a public interest report.
The FRC calls this the “reporting network” and would see a significant change to the way companies
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