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Modernising corporate reporting: what could the consultation mean for businesses?
As the government launches its consultation on the future of UK corporate reporting, Sean Bride considers what could work, what might not and what businesses need to think about next
The government has published its long-awaited consultation on modernising corporate reporting, setting out proposals intended to make the UK’s reporting framework simpler, more proportionate and fit for a digital future.
The consultation covers almost every aspect of corporate reporting, from which companies are required to report different types of information to the future of the strategic report, corporate governance and remuneration reporting. It also explores how digital reporting, company websites and AI could change the way reports are prepared and used.
But will the proposed changes make corporate reporting more useful, or could simplification come at the expense of transparency?
Recorded ahead of the consultation’s publication, RY Reporting Strategy Director Sean Bride, explores what modernisation could mean from a narrative reporting perspective, including what he believes could work, what might not and where reform could have the greatest impact.