|
CONSULTATION DOCUMENT
The Government has published draft regulations for
consultation on the Operating and Financial Review
(OFR) and the Directors' Report. A copy of the
consultation document and draft regulations is available
here  (254Kb). Copies can also be obtained
from DTI Publications Orderline ADMAIL 528 London
SW1W 8YT (telephone 0870 1502 500 or fax 0870 1502
333 or e-mail publications@dti.gsi.gov.uk).
Responses to the consultation should be made using
the contact details in the document by 6 August 2004
A press notice (P2004/177) issued on 5 May 2004 is
available here.(177Kb)
The OFR Working Group
The OFR Working Group (previously called The OFR
Working Group on Materiality), chaired by Rosemary
Radcliffe, an independent group of experts established
by the Government has published guidance for company
directors preparing OFRs. Copies of the guidance are
available here (200Kb) and from the Orderline contacts given
above.
A press notice issued by the Working Group on 5 May
2004 is available here(73Kb).
PREVIOUS DOCUMENTS
On 11 December 2002 the Government published the
terms of reference of the Group, click here (5Kb)
A Press Notice (P2002/812) issued on 19 December
2002 is available here
The Group
launched a consultation document on 27 June 2003. It addressed the
concept of materiality; the principles to be applied
in arriving at a judgement on materiality; and the
process directors should go through, as part of the
total process of good governance, in deciding what
should be included in their OFR.
A copy of
the Consultation Document is available here (168Kb)
A Press
Notice issued by the Working Group on 27 June 2003
is available here (90Kb)
The formal
consultation ended on 19 September 2003. A list of those
who responded to the consultation is available here (164Kb)
Responses
to the consultation document can be viewed here.
|
