The UK’s IR Society has cautioned against increasing the reporting burden on listed companies as the Financial Reporting Council (FRC) considers ways to make corporate reports more valuable to investors.
In a letter to the FRC, the IR Society states it remains to be convinced that ‘further rule changes and new guidance will result in better information for investors and other stakeholders’.
‘The extent and complexity of the regulations and guidance on annual reports is already demanding… Simplifying – not adding to – this morass would be helpful, allowing companies to focus on quality, not quantity,’ writes IR Society chairman Richard Davies.
The FRC is consulting on proposed enhancements to corporate reporting that it hopes will improve the dialogue between company boards and shareholders, especially regarding risk management in the wake of the financial crisis.
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