The ICAEW has published a consultation relating to its proposed new guidance on preparing pro-forma financial information. The draft guidance aims to provide directors with practical help when applying the preparation and presentation requirements of Annex II of the Prospectus Regulation. In particular, the guidance comments on the presentation of information, addresses the importance of identifying the purposes of pro-forma financial information and reiterates the principle that pro-forma financial information must not be misleading. The consultation period closes on 14 February 2014. Click here to read the consultation paper.