BusinessCompany NewsBrussels pushes for quarterly reporting

Brussels pushes for quarterly reporting

Brussels plans to force European companies to report result every three months in a bid to protect investors and prevent Enron-like scandals.

Link: GUS finance chief savages quarterly reporting

The European Commission has proposed mandatory quarterly reporting as part of its transparency directive, which will be officially unveiled in the next few months, the Financial Times reported today.

Mark Armour, chairman of the FTSE 100 group of finance directors believes it will be a significant burden to many companies. He claimed quarterly reporting was ‘a step too far’ in a time when boards are focused on improving governance and implementing international accounting standards.

The new directive aims to set a single set of rules for companies in Europe’s largest markets including the UK, Germany and France. The EC believes quarterly reporting would increase transparency and allow investors to be better informed about performance.

Related Articles

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

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

4m 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

12m 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