The reporting burden on listed companies has taken a massive hike as the length of interim accounts ballooned by almost a third
Corporates have been made to escalate their reporting efforts after IAS 34 interim demands became compulsory in 2007, with the average length of the half-yearly financial report up by 27%.
‘A question has to be asked whether all the new rules were required in the first place,’ said Deloitte audit partner Isobel Sharp.
Deloitte has been monitoring the situation closely since the rules came into force for reporting starting on or after 20 January 2007.
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