March 2007

Report Leadership, a multi-stakeholder group, aims to challenge established thinking on corporate reporting. PricewaterhouseCoopers LLP is working with the Chartered Institute of Management Accountants (CIMA), Radley Yeldar and Tomkins plc to develop simple, practical ways to improve narrative and financial reporting in the belief that corporate reporting should:

• be more relevant, informative and accessible
• provide investors with what they want without inundating them with unnecessary detail
• go well beyond issues of measurement and accounting.

On the reportleadership.com website you can download a free copy of the publication that outlines the initial thinking. This reflects input and feedback from a number of investors and is structured in two parts:

• First, a short framework document, which focuses on some of the issues that investors say they would like the reporting model to address. We explain each area and what we have done to address them
• Second, a fictitious annual report of a company called Generico, brings our ideas alive and illustrates how they can be addressed with creativity and thought. To make the ideas practical and realistic, it focused on what is achievable within the current International Financial Reporting Standards (IFRS) model by improving disclosure and presentation of information.

You can also watch the Report Leadership video where PwC corporate reporting partner David Phillips talks with members of the corporate, investor, accounting and design communities about their views on the current financial reporting model and the practical ideas set out in the publication.