Radical task force measures to affect PROs

A task force set up by the IPR and PRCA has submitted radical proposals to the Company Law Review Steering Group on the role PR should play in company reporting.

A task force set up by the IPR and PRCA has submitted radical

proposals to the Company Law Review Steering Group on the role PR should

play in company reporting.



The Company Law Reform consultation process looks set to have

significant implications for the PR industry, including proposals for

company reports to cover reputation issues and details on relationships

with consumers.



In its submission, the joint industry task force has stressed that

qualified PROs are best equipped for the auditing job rather than

financial auditors.



The proposal states that: PROs must have a central role in the Operating

and Financial Review (OFR) audit, CEOs and shareholders should receive

guidance on what to expect from PROs for company reports. Also that the

IPR and PRCA should be represented on the body that sets out the new OFR

and auditor roles.



IPR VP and chair of the joint task force, Philip Dewhurst, said:

’Company Law Reform presents a great opportunity for the PR

professional. PR practitioners will be competing to win the confidence

of CEOs who want to ensure their company’s reporting accurately reflects

company culture and image which impacts positively on share price.’



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