Responding to the launch of a Financial Reporting Council review into corporate reporting, Roger Barker, Head of Corporate Governance at the Institute of Directors, said:
“The FRC is right to consult on whether the Annual Report is delivering much in the way of corporate transparency. Many are far too long and only comprehensible to financial experts. We need to find a better way for both shareholders and other stakeholders to gain an insight into a company's past performance and its plans for the future.
“We look forward to contributing to this consultation which we hope will provide a fresh look at modern reporting requirements, as well as the scope for using new digital media.”