Company reporting falling short - PwC
A single report needed for external and internal consumption, says PwC
A single report needed for external and internal consumption, says PwC
Company reporting in the FTSE350 is falling short of providing enough to
properly reveal what their activities and prospects, according to a report from
PrciewaterhouseCoopers.
The
report claims companies are involved in tick-box exercies but fail to
communicate adequately.
PwC partner David Phillips said: “If your business was to be bid for, would
your current reporting help or hinder your defence? The starting point for an
attack on your competence, integrity and track record will be how you have
presented yourself externally. If the external picture is a poor reflection of
the internal reality, it will only make your life more difficult.”
The report suggests that companies need to adopt a single for reporting both
externally and internally, something rarely done among public companies
currently.
“Disconnected reporting promotes the wrong image, and it raises questions
about the quality of management and governance of a company, which can only
contribute to uncertainty and market doubts,” said Phillips.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View articleThe FRC has announced Richard Moriarty as its new chief executive, replacing Sir Jon Thompson Read More...
View article