This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

iGAAP Alert: October 2012

Draft regulations proposing a new structure for narrative reporting in the UK

iGAAP Alert: January 2012


BIS has published draft regulations restructuring narrative reporting for all UK companies.

The business review will be replaced with a strategic report. This is broadly similar to business review but includes some extra content for quoted companies concerning the business model, human rights and diversity. The need to disclose essential contracts have been dropped. The directors' report is largely unchanged although information on principal activities and a handful of other requirements have been removed.

Shareholders who currently receive only the summary financial statement will in future receive the strategic report instead. This replaces a summaarised profit and loss account and balance sheet with what is essentially a narrative discussion about the company's strategy and performance.

If enacted, the regulations will come into force in October 2013. Comments on the regulations are requested by 15 November 2012.


Download   iGAAP Alert: October 2012 (PDF)

Share this page

Email this Send to LinkedIn Send to Facebook Tweet this More sharing options

Get in touch

More on Deloitte