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The challenge of embracing the extensive and now in-force regulatory and mandatory changes to corporate reporting is manifesting in a variety of ways across the spectrum of quoted companies, FutureValue has observed. Resignation to the changes in some companies amounts to just ‘tell us what have we got to do’. Others appear to have moved into headless chicken mode as panic sets in at the thought of the scale of change as well as the likely longer term implications. There is anger as well in some quarters – among banks, retailers, utilities and others with large shareholder bases – at the unintended consequences of the revocation of the Summary Financial Statements regulation. The need to send out the full Strategic Report in place of SFS will incur considerable incremental print and distribution costs for most of these companies. But among the angst, anger and apathy it was encouraging and refreshing to hear the reaction of one FTSE250 company Group Finance Director at a FutureValue breakfast briefing session earlier this week. To him the changes and the opportunities they present are exciting. Indeed, he gave the impression of relishing the prospect of engaging his fellow Board members in the possibilities. Maybe his is the singular company that the FRC had in mind when it exhorted reporters to experimentation and innovation in its draft guidance on the Strategic Report? While mere compliance remains the target for many in their reporting this year, potential competitive advantage could well flow to those who see a glass that is half full, not one that is half empty.