2013 was the year reporting changes, which had been in the pipeline for a number of years, became a reality. The reforms of narrative reporting and directors’ pay, along with the 2012 updates to the UK Corporate Governance Code, have now become effective. For 30 September 2013 year ends — the first corporates subject to these changes — it set quite a challenge. With so many moving parts, and the supporting guidance not being available until quite late, corporates in this group had a formidable task.
To assess how effectively the new Strategic Report requirements have been adopted we looked at the September year ends from the FTSE 350. In total there were 20 companies that met the criteria — six from the FTSE 100 and 14 from the FTSE 250. Although we realise this data set represents only a small fraction of UK companies, we thought it was imperative to take an early look at how the reforms have been adopted so far and to share our findings with you.
About Black Sun
Black Sun is a leading integrated corporate communications consultancy. We partner with ambitious companies to develop and deliver their communications, enabling them to tell a consistent story which helps to build greater trust and confidence with their investors and other important stakeholders across print and digital media. We bring together corporate reporting, sustainability and digital communications for our clients to create powerful integrated solutions.
Published: 29 January, 2014