Cluttered annual reports are obscuring relevant
information and making it harder for users to find the salient
points, the UK Accounting Standards Board (ASB) said in its latest
report on improving corporate reporting.
The report ‘Cutting
Clutter: Combating clutter in annual reports’ includes practical
aids for reducing extraneous information and offers ideas on how
disclosure might look without the unnecessary information.
ASB chairman Roger Marshall said that improving financial reporting
is not only about issuing standards.
“We want to encourage a change in
behaviours, where annual reports are clear and clutter-free,
focusing on the disclosures that really aid an understanding of the
business and its long-term prospects,” he said.
The ASB said that all those
involved in regulating, reviewing, preparing and using annual
reports have to improve corporate reporting.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData