On 7 September BIST (Department for Business, Innovation, Science and Trade (formerly DBT)) issued a consultation on ‘Modernising Corporate Reporting’. In its press release, the proposals are described as ‘Common sense changes to save businesses more than £450 million a year, with even further savings to come’. It is important to note that, in BIST's own words, this is an ‘ambitious’ consultation in many respects. It therefore appears quite radical, with the aim of encouraging broad engagement to help shape final policies.
In the attached document below, we summarise the consultation’s main proposals by theme, provide an initial PwC perspective and suggest points for companies and other interested parties to consider when deciding how to respond.
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PwC Perspectives on Modernising Corporate Reporting Consultation
