Expanding the future financial corporate reporting package

This prescriptive paper examines four suggestions for improving the financial reporting package, especially within annual reports: the use of single summary statistics to report corporate risk and the quality of management, the use of a search strategy to guide users through annual report detail to directional information. Creativity in developing these new corporate disclosures needs to be encouraged by professional and regulatory authorities for a generous period of time and within a litigation-exempt environment. The speculative consequences of such changes for preparers and users of the information are also considered.