Government seeks opinion on Brexit regulation
- 30th May 2023
- Posted by: admin
- Category: News
A wide range of UK companies, investors and industry experts have been invited to give their views on non-financial reporting regimes, in a new call for evidence that aims to find ways to reduce reporting regulation burdens on businesses so that they can focus on growth.
Non-financial reporting provides valuable information to investors and is a way for companies to tell their ‘story’ beyond financial information. This includes future strategy, and detail on how a wide range of factors may affect the company’s performance, providing insight into the business and culture of the company.
However, companies and investors have been calling for the simplification of these requirements in the wake of the deregulatory opportunities offered by Brexit. Annual reports now run at an average of 200 pages for the largest companies in the UK, creating unnecessary burden for businesses. With this review, the Government will aim to:
- Save businesses time and money with a more streamlined and focused corporate reporting regime
- Ensure company annual reports contain clearer, more useful information, by asking investors what really matters to them
- Make the UK an even more competitive place to do business by placing growth and investment at the heart of reporting requirements
Source: New feed