Postcomm issues supplementary consultation on cost transparency
UK-regulator Postcomm has issued a consultation on cost transparency and accounting separation which supplements the organisation’s consultation issued in May 2010.
This consultation provides further detail in relation to the proposals made in Annex 3 of ‘Laying the foundations for a sustainable postal service’.
It focuses on the preparation of documentation of Royal Mail’s costing practices, the introduction of more detailed regulatory accounting guidelines and proposals on principles of transfer pricing to support our accounting separation proposals.
The consultation, open until August 31, also puts forward more detailed proposals on the change control process necessary to sustain cost transparency into the future and the levels of materiality to be used within the change control process to ensure that it remains proportionate and workable.
This supplementary consultation is a further important step towards delivering a new regulatory framework which will be founded on the principles of cost transparency and accounting separation, as recommended in the Hooper Report.
The consultation may be found at: http://www.psc.gov.uk/policy-and-consultations/consultations/may-2010-consultation.html
