I cannot agree more with Eli Mason's commentary on "A mini shareholder's report," (Accounting Today, June 1-14, 2009). I hasten to add that my anecdotal statistics from an informal survey of sophisticated investor clients indicate that less than 5 percent read the annual report of any company.
What this reveals is that we are cutting down thousands of trees and companies are spending millions of dollars mailing thick forms that are a complete waste. (I know most reports can be reviewed on the Internet, but those uninterested parties will not bother to do so).
The solution I have advocated for years is to permit the shareholders to opt out from receiving annual reports.
Perhaps requesting the mini report Mr. Mason suggests will not only save paper and postage, but also encourage a few more people to actually read the financials.
Stuart Kessler, CPA
THE PUBLIC FORUM OF ACCOUNTING
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