News
Financial statements 57% longer than in 2005
26 November, 2009
Audited financial statements presently average 47 pages, which according to a Deloitte’s report is 57% higher than in 2005.
With a growth of 6% last year alone the length of audited financial statements has increased by more than half in the last 4 years.
Isobel Sharp of Deloitte has said that in the foreseeable future financial statements will continue to get longer and longer as companies comply with the new rules that are coming into effect over the years ahead. “The fact that International Financial Reporting Standards include around 3,000 required disclosure points only adds to the length of the documents, she added.
If the increase continues in this way the average length for audited financial statements will exceed 100 pages by the year 2020.