UK: the complexity and relevance of corporate reporting - FRC review

The Financial Reporting Council has embarked on a review considering the complexity and relevance of current UK corporate reporting requirements. According to the FRC:

The complexity project will consider whether corporate reporting requirements are disproportionate to their intended benefits and whether there are opportunities for improvement. It will address the risk that these requirements, and related influential guidance, are contributing to the increasing complexity of corporate reports without making them more useful or understandable. The project will focus primarily on the ongoing mandatory corporate reporting requirements for UK listed companies. This includes the financial and narrative aspects of all interim, half-yearly and annual reports, but not offer documents. There is also acknowledgement of the need to keep an eye on voluntary reporting such as preliminary announcements and annual reviews to ensure the project is comprehensive in its analysis and findings"

Further information about the review is available here.