Market turmoil and ongoing sustainability challenges make it more important than ever for policy makers to drive a collaborative approach to corporate reporting to ensure that capital is efficiently allocated and investors and others understand the risks and returns
While the current turmoil in global capital markets is driven by financial and economic factors, the transparency of companies’ reporting in such volatile times has never been as important. Without it, they cannot build public trust in their performance or the sustainability of their business. And the fallout from the recent crisis is likely to push this up the agenda, as regulators and others redefine mechanisms needed to create more stability in the global capital markets.
For some time now PwC has been advocating a recasting of the reporting model through a market-driven initiative to create a global blueprint for improved corporate reporting. Given the challenges facing societies around sustainable wealth creation, climate change and the scarcity of resources, it is now urgent to develop a reporting model that effectively communicates these issues.