The UK's accounting watchdog claimed that the printed word represented a waste of both time and money at a time where internet-based communications continue to thrive, according to the Financial Times.
Although a listed company is not required to mail out printed copies to investors on an automatic basis, companies are obliged to when requested.
Stephen Haddrill, chief executive of the FRC, said: "We have been concerned for some time about the ballooning of reports.
"It is an enormous waste of paper and an enormous waste of time, and a waste of money."
However the potential move, which the FRC has claimed would enable businesses to improve the user-friendly nature of the material, has come under criticism from some parties.
The UK Shareholders Association (UKSA) said the proposed move would affect small investors and those yet to embrace online communications.
Eric Chaytor, director of UKSA, said: "Plenty who are online still like to read the report in paper and bring it to the annual meeting as a reference. This is trying to transfer the costs and effort.
"It's another attempt to squeeze the involvement of private investors," reported The Telegraph.
Reports and accounts printing under threat following new proposals
Reports and accounts printers could potentially lose lucrative contracts in 2011 after The Financial Reporting Council (FRC) said that listed companies should no longer be required to print their annual report and accounts.
