Marketing and regulatory elements diverge
The statutory requirements of corporate reporting seem to move in one direction only. The average length of FTSE100 annual reports has increased 25% in the last three years alone. It is increasingly challenging for companies to meet their regulatory requirements while at the same time producing an effective corporate marketing document. In the longer term we expect to see this drive change in the mix of annual reporting documents:
Statutory accounts : These will become pared down documents of record, more akin to the 20-F format filed with the SEC by foreign issuers.
Non-statutory reporting: This is where creativity and design will flourish and the natural home for this is the web.
Review of the year: We expect to see an annual reporting ‘hub’ emerge on corporate websites; an integrated section that contains both the statutory accounts in PDF format alongside a review of the year’s performance in a range of formats, designed primarily for the web.
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