The Chartered Institute of Management Accountants (CIMA) has announced its support for a UK Government consultation to overhaul the corporate reporting framework to align with the evolving demands of businesses, capital markets and the broader economy.
CIMA noted that effective corporate disclosures must blend financial metrics with non-financial data, providing a "transparent, rigorous and accessible" story that builds confidence among stakeholders and the investment community.
The current review offers an avenue to deliver a more succinct, cohesive and decision-relevant framework, according to the body.
The existing regulatory regime has not been substantially revised in several years.
During this period, global standards for sustainability reporting have advanced rapidly, marked recently by the domestic rollout of sustainability-related financial disclosures under UK SRS S1 and S2.