“The annual report’s primary purpose is to provide “investors with information that is useful for making their resource allocation decisions and assessing management’s stewardship.” It can also help stakeholders assess the company’s governance and whether, in the words of the FRC’s UK Corporate Governance Code, it enables the board and management to deliver on the long-term success of the company. Clutter makes it more difficult for users to assess a company’s progress by obscuring relevant information.”
“The FRC’s publication Louder than Words identified clutter in annual reports as a problem because key messages are getting lost.”
‘Cutting Clutter. Combating Clutter in Annual Reports’
Financial Reporting Council, 2011
You are required to:
- Critically assess how important it is for all companies to publish their financial reports and statements
(25 marks)
- Identify and comment on the main criticisms for the increased complexity of these financial reports and statements
(20 marks)
- Identify types of shareholders and types of stakeholders and discuss how companies should prioritise the needs of these shareholders and stakeholders, discuss if one is more important than the other and why this is so
(40 marks)
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