Corporate reporting is no longer working
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Report Summary
A Call for Evidence
Introduction from Tony Manwaring, CEO, Tomorrow’s Company
Corporate reporting is no longer working – What needs to be done to make it fit for purpose in the future?
Corporate reporting plays an essential role in the effective functioning of the market economy – it provides the building blocks of information necessary for effective decision-making by investors and other key stakeholders.
Tomorrow’s Company has a long-standing interest in the effectiveness of corporate reporting, and has played a key role in its development in the UK. As a result of our original 1995 inquiry report, the UK’s 2006 Companies Act redefined the duties of directors and introduced new requirements for narrative reporting which built on our 1998 reports Sooner, Sharper Simpler, and Prototype plc.
However, there is still room for improvement. We are concerned that whilst there are useful initiatives being taken forward to improve the corporate reporting system, despite such initiatives – and all the past efforts – little has changed.
Tomorrow’s Company in partnership with PricewaterhouseCoopers and the Chartered Institute of Management Accountants is pleased to announce the commencement of a programme looking at what changes are needed to make corporate reporting fit for purpose for the future.
We are calling for evidence from all those who have an interest in making corporate reporting work better and are inviting you to give us your views to help shape our thinking.
The call for evidence can be downloaded here and via the above Click to Download link.