Concise reports ‘essential’ for effective company stewardship

COMMUNICATION has been highlighted as the central pillar of effective company stewardship in a response to the Financial Reporting Council’s consultation.

Yesterday was the deadline for submissions, and ACCA has pushed for concise reporting that transmits essential information without burying it in day-to-day trivia.

Head of technical John Davies said: “The sheer amount of data and wording that is included in modern annual reports can be a detriment to good and transparent communication.”

The FRC examined how the stewardship role of boards and audit committees can be enhanced through reporting and audit, saying the financial crisis demonstrates real need for change.

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