Loss of reporting rule causes confusion - papers 23rd January

In a letter to the government, shareholders and governance groups say companies have been left in the dark about their reporting obligations after the scrapping of mandatory operating and financial reviews. According to the paper, Gordon Brown, the Chancellor, stunned the City in November by announcing that, in order to reduce red tape, OFRs would no longer be made compulsory. The reviews, awaited keenly by many investors, were intended to add substance to company accounts by providing management commentary on strategy, prospects and social and environmental issues. The letter to the ...