BusinessCompany NewsWater companies face OFR burden

Water companies face OFR burden

The UK's water regulator Ofwat has directed that all water companies implement an Operating and Financial Review

The move comes a year after chancellor Gordon Brown controversially dropped
the reviews, which present fuller descriptions of companies’ environmental and
social responsibilities and key performance indicators.

The organisation’s decision to obligate companies to implement an OFR is in
line with best practice, advisers said.

Ernst & Young’s head of water, Liz Barber, said OFRs were still
considered best practice in terms of companies reporting performance to
shareholders.

‘This is a drive towards talking more about the business to shareholders in
regulated accounts,’ she said.

For more go to www.ofwat.gov.uk

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

5m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor