Recognising trust and transparency
By Alan McGill, PwC Partner and Sponsor of The Building Public Trust in Corporate Reporting Awards
Established in 2002 and now in their fourteenth year, the Building Public Trust in Corporate Reporting Awards (BPTA) were created to reward and celebrate outstanding reporting and now cover the FTSE 100, FTSE 250, private, public and charity sectors. All 18 of the awards presented this year recognise the achievements of organisations that have differentiated themselves through the clarity of their reporting.
Ever since the awards were launched, the ethos behind them has remained consistent: that open, honest and transparent reporting is imperative for organisations to gain, and build trust in their reporting. Launched in the wake of scandals such as Enron and WorldCom, the awards have – if anything – become even more relevant over the intervening years, as challenges around trust have risen up the business, public and political agenda.
Against this background, all the organisations shortlisted for the awards are showing the way forward on the journey towards ‘telling it how it is’. As well as applauding their efforts, we at PwC urge others to emulate them in striving for ever more open, accessible, and integrated reporting of their purpose, actions and impacts.
Once the results of this year’s awards have been announced, they will be displayed on this website, complete with comments from the independent judging panel.
Each of the Building Public Trust in Corporate Reporting Awards is judged using a set of criteria designed to reflect the measures that Chief Financial Officers and the investment community say they apply to assess organisations’ reporting.
While the detailed criteria vary between the various award categories, the principles of good quality reporting remain common to all. These include: better – not more – information; clear linkage between the information being provided and the organisation’s stated strategy; the presentation of ‘hard’ quantitative data to support qualitative statements; measures that illustrate – where relevant – the organisation’s performance against its peers; clear performance on governance and an articulation of the organisation’s future ambition.
All of these attributes are embedded into a benchmarking tool that subject matter experts from PwC use to screen all the reporting reviewed. This screening process generates the shortlist of organisations whose reporting is then assessed by our independent judging panel.
The 2016 awards will be judged by two specially-convened expert panels chaired by Charles Tilley. The judging sessions will take place on 12 and 14 September 2016.