At PwC, we’ve always believed in the benefits of Integrated Reporting <IR>, and are the pioneers of its implementation in Mauritius.
We run various workshops tailor-made to businesses' needs, that help them understand the benefits of ‘integrated thinking’ and why they should adopt the <IR> approach:
Taking Integrated Reporting further
This is a 3 hours training programme beneficial to those involved directly and indirectly on your IR project, bringing the latest trends in Integrated Reporting to your boardroom and management.
Training on Writing skills
This has been found useful by other groups in Mauritius who have chosen to adopt <IR>. This is a 3 hours training programme on improving the way to write annual reports in a concise manner.
Making the leap from traditional annual financial reports to a fully integrated report is challenging. We accompany businesses on their <IR> implementation journey by providing practical guidance to help them implement integrated reporting tailored to their organisation.
We aim to help management focus their attention initially on how they create value for stakeholders, how they monitor and manage that value creation process, and how they ultimately report their performance externally.
Our guidance is based on a roadmap we have developed for managing and measuring the broader value drivers that form the basis of integrated reporting.
Various surveys with investors clearly show that they are in search of forward-looking information about strategy, business models and the ability of the company to create sustainable long-term value.
Governance remains the most looked at aspect; a majority of investors say that they take ESG (environmental, societal and governance) issues into consideration not only to help them manage investment risks, but also because clients/investors demand it.
Moving to IR has been one of the top suggestions to improve communications on sustainability and corporate governance issues impacting an organisation.
<IR> is particularly timely for heads of finance as strategists and change enablers.
It is clear that Finance functions have the most active participation in <IR> implementation; CFOs or Heads of Finance are ideally placed between the board and operations to see the strategic big picture, drive momentum, as they have an influential leadership, multifaceted role in the organisation.
By the nature of their activities, finance functions promote interconnectivity with the organisation; they can also influence the way non-financial measures are generated and validated.
CFOs or Heads of Finance who embrace the spirit of <IR> have the opportunity to make a major impact and enhance their reputation as true strategic leaders.
While working with our clients on their <IR> journey, we’ve seen that one of their challenges was to work and think as one, to link-up to their different operating units, initiatives and decisions, and to connect their financial and non financial capitals.
The strategy of a business often stays in the head of a few senior people in the organisation; they are not too keen to communicate on this to preserve their competitive edge.
Integrated reporting enables everyone to understand how the thinking process is happening and provides a holistic approach to the internal management of the business.
Producing profits for investors is and will remain important. However, the need to create value for other stakeholders is growing, and this is something that still lags behind in many organisations.
Make sure you understand and report on the value created for your customers, suppliers, employees, etc. Embedding your stakeholder needs helps build trust and reinforces your brand.
The annual report is not the only medium of communication to your stakeholders. Interactivity with all your communication platforms is essential in promoting stories and innovation in your organisation.
Articles, blog posts and integrated reporting releases
Olivier Rey, ACA
Partner, PwC Mauritius
Tel: +230 404 5145
Senior Manager, Clients and Markets Development, PwC Mauritius
Tel: +230 4045029