Compare and contrast the new requirements for the strategic report in the Companies Act 2006 (outlined above) with the ideas on ‘integrated reporting’ posited by the international integrated reporting committee (IIRC).

Report

Section 414c

Companies Act 2006 Strategic Report and Directs Report Regulations 2013

Contents of strategic report

(1) The purpose of the strategic report is to inform members of the company and help them assess how the directors have performed their duty under section 172 (duty to promote the success of the company).

(2) The strategic report must contain:

(a) a fair review of the company’s business, and

(b) a description of the principal risks and uncertainties facing the company.

(3) The review required is a balanced and comprehensive analysis of:

(a) the development and performance of the company’s business during the financial year, and

(b) the position of the company’s business at the end of that year, consistent with the size and complexity of the business.

(4) The review must, to the extent necessary for an understanding of the development, performance or position of the company’s business, include

(a) analysis using financial key performance indicators, and

(b) where appropriate, analysis using other key performance indicators, including information relating to environmental matters and employee matters.

5) Nothing in this section requires the disclosure of information about impending developments or matters in the course of negotiation if the disclosure would, in the opinion of the directors, be seriously prejudicial to the interests of the company.

The Companies Act 2006 Strategic Report and Directors Report Regulations 2013

Assessment

Your report should be 2,500 words in total

(a) Compare and contrast the new requirements for the strategic report in the Companies Act 2006 (outlined above) with the ideas on ‘integrated reporting’ posited by the International Integrated Reporting Committee (IIRC). A link the IIRC report is provided below:

http://www.theiirc.org/wp-content/uploads/2013/12/13-12-08-THE-INTERNATIONAL-IR-FRAMEWORK-2-1.pdf

(b) Critically evaluate the impact that the requirements for the strategic report in the Companies Act 2006 may have on the quality of information communicated to investors.

Marking scheme

25%: subject matter understanding and judgment

25%: critical analysis.

25%: evidence of wider reading.

15%: synthesis of ideas into a logical, coherent report.

10%: presentation and English.

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