Most businesses believe company financial statements are too long, and key messages are being lost as a result, a survey by accountants Baker Tilly found.
Most businesses believe company financial statements are too long, and key messages are being lost as a result, a survey by accountants Baker Tilly found.
Custom byline text:
SIMON BAIN
The survey of senior people in company finance departments, including financial directors, found 87% agreeing there was too much "clutter" on statements, and that existing standards lead to a checklist mentality and "boiler-plate" disclosure.
A similar 88% agreed that disclosure of information that is not material can obscure relevant information and that statements should be simplified, to create clearer and more easily understandable documents.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
