Question

To ask the Secretary of State for Business, Innovation and Skills, what support he is giving to UK-registered businesses to encourage reporting on an integrated reporting basis; and if he will make a statement.

I consulted extensively on changes to the reporting framework in 2013 and impact assessments, showing the costs and benefits, were published.

Initial indications are that the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 regulations, which are one form of integrated reporting, have made a positive impact and will help shareholders in their role as stewards of the companies they own.

Ultimately, good reporting should prevail regardless of the approach but there is nothing in regulation that prevents a company taking a different integrated approach to its reporting should it choose to.