The current regulatory financial reporting regime for BT requires its regulatory financial statements to be published within four months of BT’s financial year end (31 March). BT asked Ofcom to consider extending this timetable in respect of the 2006/07 regulatory financial statements to allow for material changes to the form and content of the statements and important costing methodological changes to be implemented.
On 5 June, Ofcom published a brief consultation proposing that the period in which BT can publish its 2006/07 regulatory financial statements be extended from four to six months.
This Statement sets out Ofcom’s final decision. No responses were received on this relatively minor matter and Ofcom has decided to grant a consent allowing BT to publish its 2006/07 regulatory financial statements up to six months after its financial year end.
In effect, this consent will require BT to publish its 2006/07 regulatory financial statements no later than Friday 28 September although BT has indicated that it is aiming to publish in early September if it can finalise the statements earlier.