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Financial Reporting Disclosures: Market and Regulatory Failures

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This page has been archived because it is no longer current information but is still relevant, or it is current but over 12 months old
  • Publish date: 12 December 2013
  • Archived on: 19 December 2012

Financial Reporting Disclosures: Market and Regulatory Failures analyses the problems of disclosure in financial reporting and recommends a package of reforms.

Financial Reporting Disclosures: Market and Regulatory Failures

Download a PDF copy of the Information for Better Markets report: Financial Reporting Disclosures: Market and Regulatory Failures.

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Many people believe that financial reporting disclosures have become too long and complex, creating information overload. At the same time, many users do not object to the current volume of disclosures, and say that they are still not getting all the information they need.

The report explains why these different points of view may both make sense, draws attention to some fundamental limitations of financial reporting, and recommends a programme of reform for financial reporting disclosures.

One of the drivers of ever-more-detailed regulation of financial reporting disclosures may well be perceived failures in professional judgement in deciding what should or should not be disclosed. But arguably much could be done to address current disclosure problems by placing more reliance on professional judgement. Questions of professionalism and regulation are also considered in ICAEW’s Market Foundations thought leadership initiative.

A short briefing paper setting out the report’s recommendations, Financial Reporting Disclosures: A Programme for Reform, is also available:

Further information

For further information on Financial Reporting Disclosures: Market and Regulatory Failures, or for printed copies of the report, email bettermarkets@icaew.com.