Award categories and criteria 2018

Each of the PwC Building Public Trust Awards is judged using a set of criteria designed to reflect openness in an organisation's communications to stakeholders

Now in their 16th year, the PwC Building Public Trust Awards celebrates organisations who are leading the way in open, authentic and accessible reporting and communications. The winners are announced across our dinner and lunch events.

At the dinner on 4 October 2018, the winners and highly commended organisations will be announced for the following award categories; Reporting in: Charities, the FTSE 350, Private Business and the Public Sector (in association with the National Audit Office).  For the first time this year, there will also be awards for Cyber Security Reporting in the FTSE, Reporting in Overseas Investment and Impact in Social Enterprise. 

At our lunch on 29 November 2018, we'll be celebrating reporting in relation to Corporate Governance, Executive Remuneration, Purpose and Impact, Strategic reporting, Tax, Workforce Fairness – and, for the first time this year, Reporting in the Financial Services in the FTSE. 

Click on the award titles shown below for more information.

Charities

Registered Charities in the Charity Finance ‘Charity 100 Index’ published in April 2018 will automatically be reviewed. There is no need to self-nominate.

We will review the latest publicly available trustees’ annual report and accounts, and associated year end reporting documents up to the reporting period ended 31 March 2018.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Cyber security

The FTSE 350 as at 31 March 2018 will automatically be reviewed. There is no need to self nominate.

The period reviewed will be 1 April 2017 to 31 March 2018, and we will review the annual report and linked website content as relevant.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

FTSE

The FTSE 350 as at 31 March 2018 will automatically be reviewed. There is no need to self-nominate.

The period reviewed will be 1 April 2017 to 31 March 2018, and we will review the annual report, sustainability report and supporting year end reporting documents such as preliminary results and accompanying investor presentations on the company's website.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Impact in social enterprise

Social enterprises trade to tackle social problems, improve communities, people's life chances, or the environment. Measuring impact is the recognised way in which a social enterprise can demonstrate how it’s delivering on its mission and the value created for its beneficiaries and society.

This award recognises social enterprises demonstrating a positive social or environmental impact. Application is open to members of the PwC Social Entrepreneurs Club, our UK-wide network of over 250 social enterprises. To enter the awards, applicants must state how they demonstrate a positive social impact in 500 words or less, with the additional support of quantitative and qualitative evidence e.g. annual accounts, impact report and testimonials.

Subject matter experts from PwC, Social Enterprise UK and the School for Social Entrepreneurs use the following principles to screen applications and generate the shortlist of organisations whose overall excellence in delivering social or environmental impact is then considered by the independent judging panel.

Key principles:

  • The social enterprise demonstrates a positive social impact in line with its social mission and objectives
  • The social enterprise demonstrates thorough measurement and evaluation processes
  • The social enterprise clearly communicates its objectives and impact to stakeholders
  • The social enterprise includes good quantitative and qualitative evidence of its impact

If you have a query please contact: building.public.trust@uk.pwc.com

View more

Overseas investment

The largest overseas-headquartered companies, based on number of employees and turnover at 31 March 2018, will automatically be reviewed. There is no need to self-nominate. We will review the following publicly available statements for each company: Tax Strategy, Modern Slavery Act and Gender Pay Gap.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Private business

The largest private businesses, including co-operatives, as at 31 March 2018 will automatically be reviewed. There is no need to self-nominate.

The assessment will review the latest publicly available annual report and accounts, and associated year end reporting documents, for privately owned companies, including co-operatives, up to the reporting period ended 31 March 2018.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Public sector

This award will be presented jointly with the National Audit Office

We will review the annual report and supporting year end reporting documents such as business plans.

The Public Sector award this year will focus on the bodies at the heart of government and hence of public reporting: All Ministerial departments and the largest Agencies and Arm’s Length Bodies. There is no need to self-nominate for this award.

Corporate reporting excellence is demonstrated when engaging, relevant, reliable and timely information is provided without unnecessary clutter with clear linkages to the strategic priorities; when a balance is achieved between the three pillars of reporting - content, quality and integration. Within content we look at the information the organisation has chosen to report – does it include all the critical, and relevant, including reporting on aspects of performance that did not go so well – transparency and honesty? Quality refers to the depth and materiality of the information – does the organisation 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 an organisation 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 success in the short, medium and longer-term. Clear reporting involves narrative but fuller use of diagrams and key aspects of data to help present a picture in an easy form for a reader to quickly grasp the messages being conveyed.

Underpinning our assessment of excellence in reporting is the concept of innovation – organisations who lead the way with a fresh approach to meeting the needs of Parliament, the public and other key stakeholders. We are also mindful of the FRC’s focus on “Clear and Concise” reporting (as well as ‘fair, balanced and understandable’) and will look to organisations trying to provide transparency and clarity to their 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.

Specific areas we focus on include:

  • A clear and balanced explanation of the impact (both positive and negative) of trends and factors shaping the organisation’s current and future operating environment.
  • A description of the long-term direction of the organisation, supported by the short-term strategic priorities, actions and resources needed to pursue this, with clear use of specific targets and resulting impact on society
  • A consistent strategic narrative.
  • An insight into the organisation’s business model and the key resources and relationships managed by organisation in order to fulfil its strategic objectives.
  • A clear analysis of how for some expenditure only organisations, how the costs have been managed and what value has been generated from the expenditure.
  • A clear analysis of the profile and dynamics of the principal risks the organisation faces, including how they are managed and mitigated.
  • An explanation of how strategic performance is measured over time, accompanied by supporting trend data and future targets.
  • Clear and accessible disclosures of key financial measures that drive underlying performance.
  • Governance reporting that focuses on substance over form – balancing compliance with insight into the culture and values of the entity and how they drive its governance and "tone from the top"
  • How the Accounting Officer has evaluated what is to be included/excluded from its reporting (materiality process, stakeholder responsiveness, etc.).
  • That the reporting is understandable and accessible to stakeholders, including Parliament and the general public.

If you have a query please contact: building.public.trust@uk.pwc.com

View more

Corporate governance

The FTSE 350 as at 31 March 2018 will automatically be reviewed. There is no need to self-nominate.

The period reviewed will be 1 April 2017 to 31 March 2018, and we will read the corporate governance report, other relevant parts of annual reports (including separate committee reports), and any linked website content.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Executive remuneration

The FTSE 350 as at 31 March 2018 will automatically be reviewed. There is no need to self-nominate.

Reporting will be reviewed for financial years ending in the period 1 April 2017 to 31 March 2018. For this award, we shall review the remuneration report and other parts of the annual report or linked website content as relevant.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Purpose and impact

The FTSE 350 and Public Interest Entities as at 31 May 2018 will automatically be reviewed. There is no need to self-nominate.

The period reviewed will be 1 June 2017 to 31 May 2018, and we will review corporate responsibility reports (or micro-sites), corporate responsibility websites and annual reports.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Reporting in the Financial Services in the FTSE

The FTSE 350 as at 31 March 2018 will automatically be reviewed.  There is no need to self-nominate.

The period reviewed will be 1 April 2017 to 31 March 2018, and we will review the annual report and linked website content as relevant.

The financial services industry is an integral part of our community, helping businesses and people invest, save and protect themselves against uncertainty. However, it has a trust problem that’s dimmed its allure in the eyes of many.

Trust does not just exist, it has to be earned and through our research with both industry firms and the public, we have found that there are 3 broad drivers (below) of this in any business. If you take action to influence any one of these drivers positively, then you will maintain or improve trust in your business and, ultimately improve your bottom line.

The focus of the award will be on those companies that demonstrate examples and an articulation of steps or initiatives they have taken to build trust in line with our three drivers of trust. The award will judged using the latest publically available annual report and associated year end reporting documents for financial services related FTSE 350 firms (including building societies and cooperatives), up to the reporting period ending 31 March 2018.

The drivers are:

  1. Values
    What is it: Whether the organisation and the stakeholder share common values.
    What does it look like: Sociability / Vision / Communitarian / Understands needs.
  2. Experience
    What is it: Whether the organisation consistently meets the stakeholders’ expectations.
    What does it look like: Expertise / Point of view / Clear communication / Responsiveness.
  3. Competence
    What is it: Whether or not the organisation ‘does what it says on the tin’.
    What does it look like: Understand benefits / Reliability / Transparency / Delivers promise.

View more

Strategic reporting

The FTSE 350 as at 31 March 2018 will automatically be reviewed. There is no need to self-nominate.

The period reviewed will be 1 April 2017 to 31 March 2018, and we will review the company’s strategic report and how the strategic themes are then woven through the remainder of their annual report, corporate website and results announcements.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Tax

The FTSE 350 as at 31 March 2018 will automatically be reviewed. There is no need to self-nominate.

The period reviewed will be 1 April 2017 to 31 March 2018, and we will review the annual report, tax strategy statement and supporting corporate reporting such as disclosures made on company's website, corporate responsibility reports and standalone tax reports.
 


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Workforce fairness

The FTSE 350 as at 31 March 2018 will automatically be reviewed. There is no need to self-nominate.

The period reviewed will be 1 April 2017 to 31 March 2018 and we will review the annual report and supporting corporate reporting such as corporate responsibility reports.


For the full criteria, please contact: building.public.trust@uk.pwc.com

View more

Contact us

Alan McGill
Partner, PwC United Kingdom
Tel: +44 (0)20 7212 4348
Email

Follow us