Following correspondence with the Department of Business, Innovation and Skills (BIS), the Strategic Planning Society (SPS) was invited to submit a consultation response on the future of narrative reporting. We answered questions asked in the ‘response framework’ such as, “Do you agree in principle with restructuring the current reporting framework into a Strategic Report and an Annual Directors’ Statement?” and, “Do you agree that the Strategic Report should include information on: company performance, principal risks and uncertainties, key performance indicators, key financial information … and for quoted companies should include: strategy, business model, environmental and social information, key information on executive remuneration and its link to performance?”
The SPS also put itself forward to co-ordinate a high-level panel of strategists who could undertake the development and production of the guidance material required for the Strategic Report on behalf of the Accounting Standards Board.
As those familiar with the Society will already be aware, SPS has a particular interest in this subject area, having hosted the Strategic Value in Corporate Reporting Awards for several years. The awards, which recognize annually the best in corporate reporting standards, will again take place in April 2012. Further details will be in our next newsletter, or email firstname.lastname@example.org.
For the full consultation response is available here: SPS Narrative Reporting Response 281111