Streamlining financial reporting

Streamlining financial reporting
Financial reports have become complex and difficult to read. Companies struggle to tell the story of their performance to the market, and important information gets lost in the noise. The number and detail of disclosures required has increased significantly and a risk-averse mindset has led to preparers, auditors and regulators taking a 'belt and braces' approach to disclosure, further increasing the volume of information. The result is that financial reports are now more about compliance than about communication.

In a competitive market for capital, communications matters. Research has shown that companies who communicate their strategy and performance credibly and effectively find it easier to access capital.

Honing in on what matters

Refocusing the existing framework of standards to address these issues will take time. What we want to explore is what you can do right now, within the existing framework. We've created a Streamlined Annual Financial Report to demonstrate some simple ideas that companies could apply to make their reports less complex and more accessible. It also highlights areas where the existing accounting regime prevents companies from taking what could be a more effective approach.

Download Streamlined annual financial report 2014