UK: Disclosure and transparency rules: Deloitte report

Deloitte has published a report – titled “Half a story” – in which it considers the impact of the Disclosure and Transparency Rules (contained within the FSA Handbook) on half-yearly financial reports. The report finds:

(a) 72 of the 289 companies surveyed did not present a responsibility statement in their half-yearly financial reports.

(b) Most companies published their half-yearly financial report within the two months’ reporting deadline and took on average 51 days to report. Only four companies (1%) failed to meet the shorter new deadline, publishing their half-yearly financial reports up to seven days late.

The report is available here and the Disclosure and Transparency Rules are available here.