RegulationCorporate GovernanceHSBC annual report too heavy for the postman

HSBC annual report too heavy for the postman

Royal Mail limits number of annual reports postmen are allowed to carry, as burden of financial reporting literally takes its toll

royal mail

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 reading:

The Big Four wants real time reporting

Annual reports double in size over ten
years

Company reports: an annual struggle

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