Corporate reporting has been under the spotlight in recent years, with widespread acknowledgement that reporting complexity and varied levels of transparency make assessment and analysis of corporate performance in Australia difficult. However, successful companies recognise that transparency is a critical element of what’s expected of them – a part of their ‘licence to operate’.
Various developments over the last 12 - 18 months are bringing things to a head. In 2007, the Government introduced the Simpler Regulatory System Act, there is growing awareness of climate change, investors are increasing their demands by for Environmental, Social and Governance (ESG) reporting, and stakeholders are calling for information that meets their needs.
The end result is a real push for companies to adopt a simplified but more holistic approach to their corporate reporting that integrates financial and non-financial information to present a more comprehensive view of performance.
Companies need to provide clearer information on a wider range of business activities to meet society’s expectations for objective and relevant information. Stakeholders want to see strategy properly aligned to performance, and contextual information and relevant non-financial data properly integrated with financial information in order to fully understand a company’s performance and assess its future sustainability.
Thought leadership and Insights
Access the latest Corporate Reporting related thought leadership and insights.
