Ofcom sets out proposed USPAC and RAG changes
As part of its review of Royal Mail’s regulation and financial reporting, Ofcom has set out its proposals for changes to the Universal Service Provider Accounting Condition (USPAC) and the Regulatory Accounting Guidelines (RAG). The proposed changes will affect the content, method and timing of Royal Mail’s regulatory financial reporting to Ofcom and some information that it makes publicly available.
In essence, Ofcom is proposing to “reduce considerably the accounting separation requirements”, which it hopes will therefore “reduce the regulatory reporting burden on Royal Mail, while increasing the effectiveness of the reporting framework”.
Ofcom has published a consultation document about its proposals today (31 March) and it is inviting responses to this consultation on the first phase of its review by 5pm 1 June 2017.
