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Annual reports undermined by length and complexity

CORPORATE reports are being held back by confusion over their different audiences, their complexity and lack of timeliness, a report has found.

According to an Association of Chartered Certified Accountants (ACCA) survey of annual report users, end-of-year financial reports must include more about potential risks that could affect performance.

The survey of 500 investors, capital providers, customers and report preparers also found that almost half of respondents said that too much promotional material has crept into reports and that reports were too long.

“Reports need to be simplified, they need to be written with investors in mind, and they need to be more forward looking and evidently risk aware,” said Ian Welch, ACCA’s head of policy.

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