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Accounting, Society and Enviroment - Essay Example
Author : mbruen
Finance & Accounting
Pages 5 (1255 words)
Companies are required to publish annual reports and business reviews to relay performance, development and positioning of the business; although the requirements encompassing the review are size and complexity of the business …
In 2006 the Financial Reporting Review Panel extended the requirement of the annual reports to constitute of the review from the director’s of the companies (FRC, 2008). Companies which qualify as small companies are not required to publish annual reviews (PLC, 2013; KPMG, 2006) and medium sized companies are not required to publish their environmental and social policies in their annual reviews as an obligation (KPMG, 2013). For quoted companies it is required that the review in addition with a fair review of the business and major risk faced by the company; the company should also publish its environmental policy, the social policy; employee issues and also to what extent these policies were effective (PLC, 2013; KPMG, 2006; CR, 2012). Taylor Wimpey Plc is a quoted company and is registered with the London Stock Exchange; thus it is required to publish an annual report encompassing a business review, the performance and development of its business mentioning the Key Performance Indicators and also the environmental and social policies and the effect they generate on the society and environment. Ethical Policy of Taylor Wimpey Plc The company’s ethical policy is addressed as either corporate culture, corporate responsibility or under peoples and culture. The company highlights the high ethical standards it has set for its business and employees in the form of an ethical corporate culture (TWCSR, 2009; TWCSR, 2010; TWCSR, 2011). ...