Board reporting is becoming more expensive, but not necessarily more useful.
Research covering 1,857 people across 1,676 organisations found that the average annual cost of board reporting reached £2.8 million in 2025, up 177% since 2019. Board packs also grew by 27% to an average of 220 pages, while the number of board meetings rose by 34%. Despite this increase in cost, length and meeting frequency, the quality of board reporting has not improved at the same pace. More board packs were rated poor or weak than good.
The issue is not a lack of information. In many cases, boards receive too much information and too little analysis.
Board papers often focus on internal activity rather than the decisions directors need to make. They may explain what has happened without setting out the likely impact, the available options or the risks linked to each choice. Long papers can make this worse by burying important points in operational detail. This creates a clear governance risk. Directors may have less time to identify the issues that matter, challenge management and make timely decisions. Companies may also be spending more on reporting without improving oversight.
A better approach starts with clearer standards. Board papers should follow a consistent structure, meet firm deadlines and focus on the purpose of the discussion. Authors should know what decision is required, what information is relevant and what level of detail the board needs.
Feedback should also be built into the process. Boards can review the quality of papers at the end of each meeting, but that feedback must reach the people preparing the material. Without follow-through, the same weaknesses are likely to appear again.
Company secretaries may be able to challenge unclear or incomplete papers, but they need the authority to enforce reporting standards. Support from the chair and chief executive can make better reporting a business priority rather than an administrative exercise.
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