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directors' report


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An annual report by the directors of a company to its shareholders, which forms parts of the accounts required to be filed with the Registrar of Companies under the Companies Act. The information that must be given includes the principal activities of the company, a fair review of the developments and position of the business with likely future developments, details of research and development, significant issues on the sale, purchase, or valuation of assets, recommended dividends, transfers to reserves, names of the directors and their interests in the company during the period, employee statistics, and any political or charitable gifts made during the period. The government issued new regulations for the directors’ report in 2005; these require a more comprehensive review of the company’s performance and a description of the principal risks and uncertainties affecting its future. The scope of the directors’ report was further expanded by the Companies Act 2006, which became fully operative in late 2009. See also operating and financial review.

Subjects: Financial Institutions and Services — Accounting.


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