The Chartered Institute of Management Accountants (CIMA) has announced its support for a UK Government consultation to overhaul the corporate reporting framework to align with the evolving demands of businesses, capital markets and the broader economy.
CIMA noted that effective corporate disclosures must blend financial metrics with non-financial data, providing a “transparent, rigorous and accessible” story that builds confidence among stakeholders and the investment community.
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The current review offers an avenue to deliver a more succinct, cohesive and decision-relevant framework, according to the body.
The existing regulatory regime has not been substantially revised in several years.
During this period, global standards for sustainability reporting have advanced rapidly, marked recently by the domestic rollout of sustainability-related financial disclosures under UK SRS S1 and S2.
Concurrently, technological shifts driven by digitalisation and AI have changed how data is processed, heightening stakeholder demand for prompt and accessible information.
While acknowledging the importance of accountability, CIMA observed that corporate filings have become increasingly lengthy and intricate.
The institute noted that higher volumes of disclosure do not automatically yield better intelligence for decision-makers.
Surplus information can overshadow critical details required for executive strategy, board oversight and lasting enterprise value.
CIMA stated that the eventual outcome of the government initiative hinges on businesses leveraging reporting as a mechanism for improved governance, clearer executive perspective and structured long-term planning.
CIMA CEO Andrew Harding said: “It is potentially the most significant shake up to the UK corporate reporting landscape in a generation.
“We have heard from many business leaders and our members that today’s regulatory and compliance burden is continually expanding and outweighing the benefits received by stakeholders.
“Corporate reporting should be transparent, decision-useful and efficient, evidencing value creation and not an ever-increasing regime of costly box ticking for organisations.
“It will be important to make sure reform is proportionate and useful if it is to be a contributor to the UK’s economic growth and international competitiveness.”
The institute confirmed it intends to submit formal written feedback before the consultation period concludes on 30 November 2026.
