THE INSTITUTE of Chartered Accountants in England & Wales (ICAEW) broadly welcomed rule proposals for a statutory Operating Financial Review (OFR) nevertheless warned of major problems facing companies in limits of implementing the proposals in time.

THE INSTITUTE of Chartered Accountants in England & Wales (ICAEW) broadly welcomed rule proposals for a statutory Operating Financial Review (OFR) nevertheless warned of major problems facing companies in limits of implementing the proposals in time.

As fresh accounting scandals heighten investors' desires for improved disclosures in companies' annual report and accounts, the UK Trade and Industry Secretary Patricia Hewitt launched a consultation exercise aimed at boosting confidence in UK business forward 5 May.

Speaking at an Association of British Insurers/Institute of Directors seminar, Hewitt said the consultation upon draft regulations for the OFR would provide better information upon companies. ...