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Reform in the UK: the Operating and Financial Review  photo: trodel In June 2010, the UK government announced that it would reform the law governing company reporting, "to ensure that directors’ social and environmental duties have to be covered". It also committed to investigate further ways to improve corporate accountability and transparency. The reform that the government proposed was to reinstate the ‘Operating and Financial Review’, a framework for company reporting that had previously been UK law, for a period of less than a year back in 2005. ClientEarth has been looking closely at what the government is bringing forward. The devil is in the detail, and it is essential that we get laws in place that work. You can read ClientEarth’s analysis of the Operating and Financial Review, and the devils in the detail, below: Briefing: the Operating and Financial Review and company reporting under UK law (July 2010) [pdf] The government issued a public consultation on the matter in late summer 2010, which can be viewed here. You can read ClientEarth's response below: ClientEarth consultation response: the Future of Narrative Reporting [pdf] Environmental and social aspects of company reporting were central to the government's commitment to reform company reporting law. It's crucial that they remain central in the government's reform plans. We're working to ensure that they do. |
