Upcoming Events :
Seminar: Outsourcing and Contract Procurement
Tue 28 Feb 2012
Minerva House, 5 Montague Close, London, SE1 9BB
Consultation on corporate narrative reporting launched
Mon 02 Aug 2010
The Department for Business, Innovation and Skills has launched a consultation on corporate narrative reporting.
It is hoped that this will lead to greater coherence in company reporting requirements without imposing additional regulations on the business sector.
The consultation is also designed to ensure the quality of narrative reporting is comparable with the very best performers, particularly in relation to social and environmental matters.
Business minister Edward Davey said effective corporate governance is "crucial" to both the long-term success of British enterprises and the wider economy.
He stated that while the UK's track record on this issue is good, more could be done to empower shareholders without imposing new regulatory burdens on companies.
Mr Davey added that ensuring corporate narrative reporting is carried out in a "balanced and coherent" way would allow shareholders to receive the information they need and hold company directors to account.
Any party concerned in company reporting is being invited to participate in the consultation, which closes on October 19th 2010.
James Oxley, a solicitor at Winckworth Sherwood, commented: "This consultation takes forward commitments made by the coalition government in the area of corporate reporting and transparency.
"However, with the ink from the lengthy Companies Act 2006 barely dry, there will be many in the business sector who will be keen not to see further regulations just yet."
