Banks’ annual reports are ‘unread and unreadable’ because of the glut of
information that readers are forced to sift through.
Private equity chief Jon Moulton told MPs that was why the banking crisis had
not been spotted earlier.
Moulton identified the transparency and disclosure requirements as a
double-edged sword, as key information was buried in the excess of data.
‘It’s all down to the fine print and the mountains of paper that [banks]
produce,’ Moulton said.
Moulton added that it was ‘unrealistic’ to think that the FSA in its capacity
as regulator would ever be able to handle the complexity of the banking markets.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.