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FEE paper puts forward the idea of 'CORE & MORE'

  • FEE (Federation of European Accountants - Fédération des Experts-comptables Européens) (lt green) Image

13 Oct 2015

The Federation of European Accountants (Fédération des Experts-comptables Européens, FEE) has published a paper presenting a new approach to corporate reporting.

The paper starts by stating that the audience for corporate reporting is continually growing and diversifying and that corporate reporting needs to properly address the needs of an ever wider audience. Building on this premise, the authors look at the content of corporate reporting in two broad areas, financial reporting and reporting on non-financial information (NFI – defined throughout the paper as anything other than financial information). While financial reporting is a well-established concept, NFI reporting is still developing and currently seems to have resulted in a patchwork of different, often unconnected, reports.

Acknowledging that none of the reports currently available can address the needs of a wider stakeholder group as a single standalone report, FEE puts forward a new approach to corporate reporting: CORE & MORE.

  • The CORE report would contain the key information that is important for obtaining a fair understanding of the key elements of the company’s affairs, the key financial results and additional information that is considered to be relevant and material for the company’s stakeholders.
  • The MORE report(s) would include more detailed information, for example detailed disclosures for financial statements or additional information that would be of a wider range than that in the CORE report.

The paper argues that the approach - especially when combined with an efficient use of modern technology - would allow for more timely presentation of information, would give companies the possibility to update individual elements without affecting the other parts, and could be used by stakeholders to tailor the information presented to their own information needs.

Please click to access the press release and the paper on the FEE website.

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