This award will be presented jointly with the National Audit Office.
The period reviewed will be 1 April 2013 to 31 March 2014, and we will review the annual report and supporting year end reporting documents such as preliminary results and accompanying investor presentations on the company's website along with corporate responsibility reports where referenced.
Corporate reporting excellence is demonstrated when engaging, relevant, reliable and timely information is provided without unnecessary clutter; when a balance is achieved between the three pillars of reporting - content, quality and integration. Within content we look at the information the company has chosen to report – does it include all the critical, and relevant, elements our research with preparers and users globally tells us they need to understand the quality and sustainability of performance? Quality refers to the depth and materiality of the information – does the company use only qualitative information or is narrative supported with quantitative data, when relevant, benchmarks and targets? Does the reporting cover the past, present and future? Finally, for integration, we consider how well a company demonstrates a clear, consistent and balanced message across its communication channels and the linkage and inter-dependencies between the different elements reported, as well as relating them back to the strategic themes set out as key to company success in the short, medium and longer-term.
UK reporting has undergone a year of transition following new reporting regulations including the introduction of the strategic report. Alongside this initiatives, such as the FRC’s Reporting Lab and the International Integrated Reporting Council (IIRC), continue to challenge the status quo and encourage innovative ideas to improve the depth, breadth and quality of reporting. Our award continues to give credit to those making real inroads in adopting these concepts and leading the way in driving fresh thinking and innovation. Transparent and insightful reporting is not necessarily about more information but about de-cluttering existing structures, taking a fresh approach to traditional disclosures and exploring innovative approaches to meeting the needs of investors and other key stakeholders.
Specific areas we focus on include:
This award will be judged by the BPTA Judging Panel sitting on 16 September 2014.