Stop burying us in swollen corporate reports, says audit watchdog bossThe FRC boss warned against growing annual reportsThe boss of the audit watchdog has warned that the size of annual reports has swelled out of control, costing directors too much time. Richard Moriarty, chief executive of the Financial Reporting Council, said the costs and expectations surrounding annual reports have steadily ballooned as more companies devote pages to environmental, social and governance issues such as sustainability. Outsized annual reports also make it difficult for investors and creditors to track down information relevant to themselves, Moriarty added. “Audit quality in the UK has come a hell of a long way since that dark period of 2018. There was a complete breakdown of public trust and confidence in the audit profession and indeed its regulation.”