BusinessCorporate FinanceCorporate reporting changes delayed

Corporate reporting changes delayed

Corporate reporting changes due to come into force at the beginning of 2005 could be delayed after intense business lobbying.

Link: Corporate reporting standards fail to rise

The changes, which would see some 1,300 quoted companies having to publish an obligatory financial review alongside annual reports and accounts could be pushed back by three months.

Such a delay could give companies breathing space for an extra 12 months when it comes to implementing the changes, depending on when their year-end accounting takes place.

The Financial Times newspaper reports that ministers at the Department of Trade and Industry are expected to announce the delay next month.

During a consultation on the changes, business groups voiced concerns that legislation was being implemented too quickly.

The January 1, 2005 deadline was being implemented to comply with European directives.

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