Open Response to PwC and the UK Financial Reporting Council

David Philips, whose Corporate Reporting Group at PriceWaterhouseCoopers has stuck with the challenges of reporting year in and year out, just posted about a new report from the Financial Reporting Council (FRC) called Louder than Words: Principles and actions for making corporate reports less complex and more relevant. In support of the report, PwC has written a letter suggesting concrete action plans to make that happen.

I started writing a response on his blog but it got a little too big for a comment so I moved it here. Regular readers have seen the data before (especially in my recent post on goodwill) so please excuse the repetition. Read more

A New Approach to Annual Reports

I recently happened upon an interesting site that I somehow hadn’t found until now called Report Leadership.

It was a joint effort last year by the Chartered Institute of Management Accountants (CIMA), the Corporate Reporting group at PriceWaterhouseCoopers, and the design firm Radley Yeldar.

The group took it upon themselves to build a new annual report. The site explains their thought process and includes a sample web-based annual report for a fictitious company.

Having been a consumer of annual reports since my early career as a high risk lender, I can tell you Read more