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Overview
On 28 November 2005 Gordon Brown announced the Treasury’s intention to reduce the requirements of the Operating and Financial Review (OFR). The London Stock Exchange is delivering an updated half-day seminar on 1 March to reflect the changes taking place.
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The revised OFR will be based on the minimum standards outlined in the EU Accounts Modernisation Directive. Our updated seminar will seek to unravel the complexities and uncertainties around this subject matter and create a forum for delegates to better understand the issues. Please find attached the revised seminar agenda.
Who should attend?
This half-day workshop is ideal for the following professionals:
- Company Secretaries
- Finance Directors
- Human Resources
- Corporate Communications
- Investor Relations
- Media and Corporate affairs.
Additionally, the course will be relevant for
- internal audit
- anybody involved in providing information for their company’s OFR
- anybody responsible for producing their company’s OFR.
Cost
£500 + VAT
Workshop date
If you would like to attend this course, please contact Juliet Heading for information on future dates:
Telephone: +44 (0)20 7797 1739
Fax: +44 (0)20 7920 4669
E-mail: jheading@londonstockexchange.com
Online: click here to book online
Agenda
8.30 Registration and breakfast
9.00 Introduction
9.10 Narrative reporting: Requirements and expectations
- Evolution of the Extended Directors Report
- EU Modernisation Directive
- UK legislative requirements
- Disclosure framework
- Voluntary OFR requirements
- Current trends and practices in narrative reporting
- Investor expectations and needs – will these be met by the Extended Directors Report?
- Wider stakeholder expectations
- Next steps for the voluntary OFR
David Loweth
Board Secretary
Accounting Standards Board
9.50 Responding to narrative reporting requirements and expectations
- Developing an Extended Directors Report
- Developing an OFR
- Making your narrative reporting relevant to stakeholder needs
- Aligning your narrative reporting with company performance reporting
- Data integrity and assurance considerations
- Comparability and communication considerations
- Advantages and disadvantages of different approaches (enthusiastic versus minimalist)
Kirsty Searles
Director
Deloitte
10.30 Coffee
10.55 Legal implications
- Legal considerations
- Commercial implications – confidentiality, commercial sensitivities
Jeremy Sandelson
Partner
Clifford Chance LLP
11.25 Institutional investor perspective on narrative reporting
- Value of reporting on non-financial issues
- Linking narrative reporting to other reporting to present an integrated picture
- Narrative reporting as a platform for dialogue with investors
Rob Lake
Head of Corporate Engagement
Henderson Global Investors
11.55 Company approach to narrative reporting
- Producing an OFR to meet differing stakeholder demands’
- Shareholders
- Investors
- Analysts
- Customers
- Regulators
- Employees
- Process for data collection
- Using current reporting practice to meet the requirements of an OFR/Extended Directors Report
- The relationship between key departments involved in producing the OFR/Extended Directors Report
- The role of Directors and the Auditors
Robin Miller
Deputy Company Secretary
Gallaher Group PLC
12.20 Q&A session
12.30 Close
Forthcoming events
- The Corporate Governance Conference: 14 March 2006
- The Corporate Governance Workshop: March, June, September 2006
Click here to view details of these and other courses available