The annual report has doubled in size in ten years according to a Deloitte study reported in Accountancy Age. This despite the decision not to make the operating and financial review (OFR) mandatory.
In place of the OFR, companies are to produce ‘business reviews’ – detailing their approach to the environment, employees, social and community issues. On the face of it, this will provide more work and more responsibility for PR advisers. But lobbying efforts of the CBI and others to reduce the burden of ‘red tape’ are reported in The Guardian today.