Insights from PwC’s Building Public Trust Award 2018 for Reporting in Private Business, by Suzi Woolfson, PwC Partner
Privately-owned businesses can be
As in previous years, we used a rigorous screening process to identify the shortlist. This included an assessment of the reporting from the Sunday Times “Top Track 100” ranking of UK private businesses, supplemented with a review of the UK’s largest partnerships and mutuals.
While we assessed each
In recognition of the current public focus on corporate governance reform for private companies, we chose companies for the shortlist that all voluntarily apply a corporate governance code. All three businesses went beyond the regulatory requirements, demonstrating their commitment to putting strong and effective governance at the heart of their business and communicating it clearly to their stakeholders.
However, while they all had this in common, the nominees differed widely in terms of size and complexity. Assessing the reporting from private businesses is made more difficult by their diversity, which often makes it hard to compare them directly. The judges were eager to give a special commendation to the family-owned business on the shortlist, feeling its reporting was particularly comprehensive and engaging for a company in that segment.
More generally, the judges were impressed with the reporting from all three nominees. They all provided a strong articulation of their purpose and the societal
Overall, our review and judging process for this year’s awards confirmed once again that the best reporting by private businesses would not be out of place in the FTSE. To read more about out what the leaders are doing right, please click through to read the judges’ comments.
And if you’d like feedback on how your private business scored in this year’s assessment, please feel free to get in touch by sending an email