Government removes requirement for quarterly reports by bussinesses

Minister of Finance Siv JensenMinister of Finance Siv Jensen.Photo: Vidar Ruud / NTB scanpix

The Finance Ministry has removed the requirement for reporting and publication of quarterly results of listed companies.

The decision is related to the EU changes that greatly restrict the authorities of the opportunity to impose frequent sector result reporting.

The changes apply to EU member states and will in all likelihood be incorporated into the EEA Agreement.

Both the EU and the government points out that the interim and quarterly reports constitute a “substantial burden” for small and medium enterprises.

– This is in line with the Government’s simplification work. The amendment will also make it easier for companies seeking IPO, says Minister of Finance Siv Jensen .
The change takes effect on the 1st of January.

Source: NTB scanpix / Norway Today