ARTICLE · 08 NOVEMBER 2005

Surveying OFRs And Narrative Reporting In Annual Reports - Part 4

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This disclosure checklist is based on the UK Accounting Standards Board’s (ASB) Reporting Standard on the OFR (RS1) which supports the final statutory requirements in SI 2005/1011. <p>The Regulations state that quoted companies will be required to prepare statutory OFRs for the first time for financial years beginning on or after 1 April 2005. The Reporting Standard will apply to all entities that prepare an OFR.

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Article by Martyn Jones, Sarah Kershaw, Ian Krieger, Alice Patrick, Kirsty Searles, Isobel Sharp and David Viles

The imposition of a statutory Operating and Financial Review (OFR) on listed companies will represent a significant task for all and a considerable challenge and burden for many.

APPENDIX 2 – DISCLOSURE CHECKLIST

The Operating and Financial Review (OFR)

Disclosure Checklist

1. The OFR

This disclosure checklist is based on the UK Accounting Standards Board’s (ASB) Reporting Standard on the OFR (RS1) which supports the final statutory requirements in SI 2005/1011.

The Regulations state that quoted companies will be required to prepare statutory OFRs for the first time for financial years beginning on or after 1 April 2005. The Reporting Standard will apply to all entities that prepare an OFR.

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