What can technology offer to boards, investors and those who prepare business accounts when it comes to corporate reporting? A project by the Financial Reporting Council aims to find out.
With digital technologies permeating our lives, from smartphones through to sophisticated cloud-connected accounting and business software, it is not a surprise to find that the bodies behind the UK’s corporate reporting mechanisms also want to bring corporate reporting fully into the 21st century.
However, for businesses that meet the mandatory threshold for audit, the challenge posed by new and revised financial reporting standards makes it important to know what they think are the benefits that digital technologies will bring to telling their stories, particularly since boards face increasing narrative reporting requirements around areas such as executive remuneration and corporate responsibility.
This is an extract from the Business & Management Magazine, Issue 258, October 2017.