Okay, not an inspector but can help you with some documentation.
Here is the NUT advice, which quotes extensively from this document ('Planning Guidance for Primary Teachers, compiled jointly by Ofsted, Dfes and QCA').
It says things like:
'Planning is an essential aspect of teachers?work. All teachers need to plan what they will teach and how they will teach it, but spending excessive amounts of time on long, detailed plans does not necessarily lead to better teaching and learning.There is no prescribed format or length"
'HOW TO CUT UNNECESSARY WORK IN PLANNING? - Your plans are for you and other
professionals working with you.
Occasionally, others will need to see
your planning.When Ofsted inspectors
arrive they will look for clear objectives
that show your intentions for what
children will learn and how these
objectives will be achieved. Inspectors
will not expect to find a particular
model or format for planning; they will
be much more interested in the impact
of planning on your teaching and the
children?s learning.'
'You don?t need to start from scratch
with a blank sheet of paper.Good
quality plans are already available, such
as National Numeracy Strategy Unit
Plans and National Literacy Strategy
medium term plans and planning
exemplification, plans written by
colleagues and plans on the web.
For medium-term planning, the QCA
schemes of work contain the detail you
need for each subject. It is not necessary
to write things out again; QCA schemes,
for example, can easily be converted
into lesson plans if accompanied by
post-its, notes and annotations to add
detail of your own. Planning in this way
will meet with Ofsted?s approval
providing it has a positive impact on
teaching and learning.'
And, well, I'll let you read it at your leisure - but it's there to protect teachers from just the kind of thing you are experiencing at the moment. Fwiw, we were inspected earlier this year - we provided our own lesson plans when observed (usual weekly Literacy/Numeracy planningg, for example) but they never asked to see medium term planning at all. We were found to be good with many outstanding features, and teaching was never less than good.
Good luck, hope the document is useful and that you manage to talk some sense into your panicking SMT!