First step towards reduction of disclosure overload

The significant growth of Annual Financial Statements (‘AFS’) concerns many commentators. They find AFS just too long and, as a result, less effective as a tool to communicate between their preparers and their users. Ultimately, this reduced utility of AFS could put the societal benefits attached to standardized and mandatory disclosure via AFS at risk. This article aspires to identify a robust and plausible first step towards improving this situation.

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