OFR set to create new CIMA roles.

PositionREPORTING - Operating and financial review - Chartered Institute of Management Accountants - Brief Article

Management accountants have a major part to play in ensuring that the new operating and financial review (OFR) requirements create a beneficial reporting mechanism. Professor Michael Bromwich, CIMA professor of accounting at the London School of Economics and Political Science, told a recent conference that narrative disclosures including the OFR were set to change management accountancy in many organisations and could alter the benchmarks of good corporate governance.

Speaking at the biannual Management Accounting Research Group conference in London, Bromwich said that management accountants could develop effective ways to report non-financial information. "This has to be done properly and by people who understand the financial information of an organisation," he said. "It's a good role for management accountants to use their talents."

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