Disclosure woes stem from 'one size fits all' approach

THE push for more and greater disclosure from companies has inevitably led to widespread complaints of information overload in financial reporting. But, while less disclosure is not necessarily the answer, better - ie, more relevant - disclosure is.

The Institute of Chartered Accountants in England and Wales (ICAEW) has released a report calling for vital reform of four areas of financial statement disclosure.

It says that problems over disclosure are the result of the current regulatory system, and the system must change or disclosures will deteriorate.