The working party will be chaired by immediate past president Chris Swinson, who collaborated with the Centre for Tomorrow's Company, the University of Sunderland and Gateshead-based financial software house QSP to get the project off the ground last year. The project culminated in a sample set of reports for a fictitious company, Prototype plc, which was presented at an English ICA conference last year. According to participants, the next phase will examine the issues raised by the Prototype plc project and look at the content required in the financial report of the future and how companies will present it. Swinson's involvement in the project is significant, as he continues to serve as the institute's representative on the Department of Trade and Industry's consultative committee on company law. Many of the proposals put forward the 21st Century Annual Report project will need to be supported by new financial reporting legislation. 'I would be surprised if proposals were not brought forward within the review, but I cannot say when,' said Swinson.
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