Regulatory financial reporting obligations on BT - taking a fresh view

Regulatory financial reporting obligations on BT - taking a fresh view

BT submitted its response on 14th June 2006

Executive Summary

BT responds to the first part of Ofcom's two part consultation on BT's regulatory financial reporting obligations.  The first part, which is the subject of this response, deals with a number of changes to the form and content of BT's regulatory financial statements for the year ended 31st March 2006, which result from various other consultations by Ofcom during the past year.  In addition, Ofcom are proposing some changes to the scope and nature of the audit opinion that BT is required to obtain from independent auditors.  BT largely welcomes the proposals, although we believe that Ofcom should further rationalise the scope of the audit opinions.

This response addresses the first twelve questions posed by Ofcom. The remaining questions, which consider the fundamental purposes of regulatory financial reporting, and whether the current form, content and scope is appropriate going forward, will be the subject of a further response by BT, due by 12th July 2006.

Download BT's response as a PDF document

Note that the most recent regulatory financial statements, for the year ended 31st March 2005, are available to download.

BT would welcome comments on this response. Comments should be addressed by e-mail to Michael Doodson at michael.doodson@bt.com