HSBC’s annual report
is so heavy that Royal Mail has limited the number its postmen carry in order to
prevent back injuries.
The report, at 454 pages, weighs 1.47kg and is also a product of financial
reporting regulations which are causing frustration among corporate executives
and shareholders alike.
The weighty report is a classic example of the current debate between
standard setters and investors and financial officers, who argue that annual
reports have become longer, without necessarily delivering information that
shareholders need, the FT reported.
HSBC said that the limitations placed by Royal Mail meant that some
shareholders – of about 300 000 around the world – had to wait longer last month
for their report to arrive.
The report may also be downloaded from
hsbc.com, the bank said.
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group