Too much data, not enough information says ICAS

Company reports are obscuring the facts when it comes to business performance and risk according to a recent report by ICAS.

The volume and level of disclosure detail in corporate annual reports is obscuring essential business information and risk data, according to the Institute of Chartered Accountants of Scotland (ICAS).

The accounting body put forward this view in a submission to the Financial Crisis Advisory Group recently, a panel set up by the International Accounting Standards Board and its US counterpart, the Financial Accounting Standards Board to consider the standard

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