Sallie Pilot of Black Sun describes the continuing evolution of narrative reporting in the UK, highlighting four key areas of change.

There is a broad consensus that Corporate Reporting is not fit for purpose. The needs and requirements of market are moving rapidly, with both legislation and technologies evolving, and reporting has long failed to keep pace. Stakeholders, regulators and companies alike recognise the need for change towards a model that better meets all of their requirements.

To date reporting has evolved in a piecemeal fashion with changes to regulation responding to specific issues. For example, much of the focus by the government over the past year has been on tackling executive pay in response to widespread media coverage and shareholder discontent. The ‘shareholder spring’ has changed the dynamic for companies and, in particular, for their board members. Increasingly engaged shareholders are finding and using their voices.

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