A case of foggier finances?

21 August 2007

It seems financial confusion is currently widespread in UK companies.

Communications consultancy Radley Yeldar says firms are failing to meet the EU Transparency Directive, introduced last January, which requires companies to issue interim management statements (IMS) midway between the half-year and full-year results.

It says 14 per cent of UK companies have not met the requirement to discuss their financial position and IMS reports already produced range from 28 to 13,000 words.

Perhaps misunderstanding has arisen because there is already enough paperwork to contend with in business. Do you welcome moves towards financial transparency? Or does the current confusion suggest extra bureaucracy or EU involvement serves only to cloud or disrupt such processes?

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