Big 4 accountancy firm KPMG has called for a redress in the balance of financial reports.
Such documents should fulfil the requirements placed upon organisations by regulation but also act as a provider of real insight into the workings of the business itself, said the company.
A study conducted by the group found that over three-quarters of investors would like more details pertaining to the assumptions made in reports, while a similar figure called for greater clarification regarding exceptionals.
John Griffith-Jones, KPMG's chairman, remarked: "With financial statements increasing in length and complexity, there is clearly a need to ensure that there is consistency and transparency in the way that information is presented."
He added that if the financial community falls short of this it needs to carefully analyse the situation.
KPMG recently stated that
auditors are beginning to take greater note of factors such as IT risks in their assessments.
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