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20th July 2005 - Trucost Guide - Requirements of the OFR
Trucost explains the Operating and Financial Review (OFR) regulation that applies to all UK listed companies for financial years starting on or after 1st April 2005.
Guide Highlights :
- The Operating and Financial Review (OFR) applies to all UK listed companies for financial years starting on or after 1st April 2005
- The OFR requires directors to provide shareholders with a balanced and comprehensive analysis of their business, including future prospects
- If relevant the OFR must include information about the environment, employees and social and community issues. If directors choose not to disclose such information they must make a positive statement to this effect
- The regulations establish a criminal and administrative enforcement regime. Company directors carry personal liability and potentially face unlimited fines for non-compliance
- The regulations establish an auditors' review for the OFR
- The Accounting Standards Board (ASB) have defined the OFR Reporting Standard (RS) 1
For more information contact Trucost on:
T: +44 207 321 3833.
info@trucost.com
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