Financial Reports – Hiding the Wood in the Trees?
The average length of companies’ audited financial statements has more than doubled since 2005, with a 6% growth in the last year. How’s this for a positive feedback loop: A report by Deloitte: Finishing (in) figures: Surveying financial statements in annual reports found that financial statements of listed companies have grown by 57% in the four years to 2009, averaging 47 pages. Accountants auditing the state of the documents produced by accountants. Good stuff. Not that it makes things any clearer – although investors …
The average length of companies’ audited financial statements has more than doubled since 2005, with a 6% growth in the last year.
How’s this for a positive feedback loop:
A report by Deloitte: Finishing (in) figures: Surveying financial statements in annual reports found that financial statements of listed companies have grown by 57% in the four years to 2009, averaging 47 pages.
Accountants auditing the state of the documents produced by accountants. Good stuff.
Not that it makes things any clearer – although investors are always calling for more transparency in financial reports, many are opposed to an increase in ‘clutter’.
So is more wood being hidden in the trees or are investors just trying to have their cake and eat it?
Try not to choke on the analogies.
Or the forseeable trend – financial statements will continue to get longer and longer as companies comply with the new rules that are coming into effect.
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