A survey by Deloitte has revealed that audited financial statements from UK companies were 6% longer in 2009 than they were in 2008. According to The Financial Reporting Council (FRC), this is due to the padding out of annual reports with irrelevant matters such as information on the companies’ social responsibilities. More worryingly, the survey revealed that approximately two thirds of companies failed to meet the overall “spirit” of reporting requirements in that they didn’t address the actual risks facing their businesses. As a result, Deloitte has suggested that the FRC should work with companies to increase the value of said reports to investors.