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Disclosures may be a mandatory requirement of the law or other regulations, or they may be provided as voluntary disclosures by a company.
In practice, the disclosures by a company are likely to be a mixture of mandatory and voluntary disclosures. The nature and amount of mandatory disclosures depends on the laws and regulations of the country.
Some disclosures are required by law. For example, companies are required to prepare an annual report and accounts, and present these to the shareholders.
Company law specifies what the directors’ report and the accounts must contain, and in addition other regulations about content apply such as the requirements of Financial Reporting standards.
Some disclosures are required by stock market rules or FRN. For example, the SEC/FRN rules require listed companies to provide information relating to corporate governance and a chairman’s report in their annual report and accounts. There are also stock market rules about other announcements by
the company, such as profit warnings and announcements of proposed takeovers.
1.3 Voluntary disclosures In addition to the mandatory disclosures required by law or regulation, many companies provide additional information, as part of their normal reporting cycle. Typically, these include an operating and financial review;
a social and environmental report; corporate social responsibility report; financial summaries; details of key performance indicators (KPIs). There are several reasons why a company might make voluntary disclosures
In practice, the disclosures by a company are likely to be a mixture of mandatory and voluntary disclosures. The nature and amount of mandatory disclosures depends on the laws and regulations of the country.
Some disclosures are required by law. For example, companies are required to prepare an annual report and accounts, and present these to the shareholders.
Company law specifies what the directors’ report and the accounts must contain, and in addition other regulations about content apply such as the requirements of Financial Reporting standards.
Some disclosures are required by stock market rules or FRN. For example, the SEC/FRN rules require listed companies to provide information relating to corporate governance and a chairman’s report in their annual report and accounts. There are also stock market rules about other announcements by
the company, such as profit warnings and announcements of proposed takeovers.
1.3 Voluntary disclosures In addition to the mandatory disclosures required by law or regulation, many companies provide additional information, as part of their normal reporting cycle. Typically, these include an operating and financial review;
a social and environmental report; corporate social responsibility report; financial summaries; details of key performance indicators (KPIs). There are several reasons why a company might make voluntary disclosures
