Proposals for this change to the financial reporting regime have been put forward by the European Union, but the FSA said it had received a barrage of opposition to the measure.
According to the FT many of the responses received by the City watchdog claimed implementing quarterly reporting would be expensive and inhibit disclosure, rather than improve the quality of information being communicated to investors.
Earlier this week, Peter Montagnon, head of investment affairs at the Association of British Insurers, and Pierre Bollon, director general of the Association Francaise de la Gestion Financiere, the ABI’s French counterpart, claimed that the introduction of quarterly reports would not greatly improve transparency in accounts and could cause more problems.
Quarterly reporting is standard in the US.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements