DTI outlines financial reporting requirements

Gerry Sutcliffe, minister for Employment Relations and Consumer Affairs, has announced the change as part of an overhaul of financial reporting and auditing requirements across the UK. The DTI held consultations earlier this year on specific issues surrounding the implementation of International Financial Reporting Standards and other regulatory issues that have resulted in the latest proposals. Additional regulations will be introduced as statutory instruments, coming into force in October this year – but September for the smaller financial services companies affected. Among the c...