United Kingdom

Details

  • Service: Audit
  • Type: Press release
  • Date: 01/10/2013

KPMG supports call for greater assurance over narrative reporting 

 

Commenting on the publication today of the ICAEW’s report The Journey looking at narrative reporting in annual reports, David Matthews, partner at KPMG, said: “It is surely an anomaly that some of the information most valued by investors is subject to the least scrutiny.  We welcome the ICAEW’s report on this important area.

 

“Regulation could be introduced to mandate greater assurance over the front end of annual reports, but regulation can be a blunt tool if not wielded carefully.  We would rather see a demand-driven solution – it’s time for investors and stakeholders to tell us what would give them the greatest value.

 

“If companies are prepared to make the investment to improve the transparency and quality of narrative reporting and the robustness of the processes that generate it, it is reasonable to expect auditors to make that journey with them, providing assurance over the output to investors.  I believe that this is achievable.  We are ready to play our part.

 

“If we are serious about restoring trust in corporate reporting, then greater assurance over front end statements is surely a vital element in making that happen.”

 

KPMG has recently launched a new initiative, Restoring Trust, to debate ways of improving corporate reporting and making it more fit for the modern marketplace.  Further details are available at www.kpmg.com/uk/corporatereporting

 

-ends-

 

 

Media enquiries to:

 

Mark Hamilton, KPMG Corporate Communications                            020 7694 2687

 

About KPMG  

 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff.  The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  KPMG International provides no client services.

 

Share this

Share this