Kingman and the impact on corporate reporting
As the government consults on the Kingman review recommendations, Michelle Cardwell outlines seven recommendations that focus on corporate reporting.
ARGA would have a duty to promote the interests of consumers of financial information. To achieve this, Kingman reviewed the FRC’s core functions and made a number of recommendations, including some aimed at improving corporate reporting and enhancing ARGA’s regulatory powers. These recommendations are outlined as follows:
1. Report to parliament on the usefulness of corporate reporting: The FRC will be taking forward this recommendation immediately. ARGA would promote concise and understandable corporate reporting, with the aim that reporting should be accurate, complete and not misleading to shareholders and other stakeholders.