On 10 May 2011, the Quoted Companies Alliance met with Ed Davey MP, Minister for Employment Relations, Consumer and Postal Affairs, to discuss narrative reporting and corporate governance.
Ed Davey works in the Department of Business, Innovation and Skills (BIS), and is currently the minister responsible for the Government's review ongoing review on narrative reporting. Mr Davey explained that this review aims to create more meaningful reporting from companies and wants to place more emphasis on the importance of business strategy and key risks. The review is also attempting to decrease complexity and BIS is examining any duplicate reporting requirements. A consultation on restructuring the UK's narrative reporting framework will be out in July.
The Committee and Mr Davey also discussed the EU Corporate Governance Green Paper and the current work in the UK on diversity in the boardroom.