Regulatory Financial Reporting: a review

About this document

This document sets out the changes that we have decided to make to BT's regulatory financial reporting requirements.

We explain that BT's regulatory financial reporting should provide us with the information that we need to make informed regulatory decisions, monitor BT's compliance with regulatory obligations, ensure that obligations address underlying competition issues and investigate potential breaches of obligations. It should also provide reasonable confidence to stakeholders that BT has complied with its SMP conditions while adding credibility to the regulatory financial reporting regime.

The changes that we have decided to make will:

• give Ofcom a greater role in the way that BT prepares its regulatory financial statements;
• improve the presentation of the published regulatory financial statements and supporting documentation; and
• ensure that Ofcom and other stakeholders have the information that they need.