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Trends
Trends 2005Good Practices in Corporate Reporting
6th annual publication
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The framework for good corporate reporting
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Market Overview - how the landscape looks like
• Competitive Environment• Market factors and dynamics affecting especially the
corporation’s current and future business
• Regulatory Environment• Changes, challengies
• Macro Environment• Interest rates, oil price, demographics etc. affecting the
corporation’s business
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Strategy and Structure- how to compete within this landscape
• Goals & Objectives• A clear statement of strategic long/medium/short term goals
and objectives• Governance
• Commitment to transparency and how the requirements are met and managed
• Risk Framework• High level overview of how risks are managed
• Organisational design• How the current structure is designed to fulfill the strategy
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Managing for Value- explanation of critical risks and resources and how they are faced and managed
• Physical assets• Financial assets• Customers• People• Innovation• Brands & Intellectual assets• Supply Chain
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Performance- the non-financial and financial ability
• Economic• Internal and external measures of value creation
• Operating• Performance in terms of non-financial outcomes
• Environmental, Social & Ethical• In the light of their importance to strategic objectives
• Segmental• Internal, based on geography/business unit/product area,
measures for value creation and operating performance
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Reporting trends
• Move from ‘guidance’ on reporting to ‘mandatory’• Burden of corporate reporting is growing heavy• Underlying concepts of new regulation are welcome:
focused on investors’ need to view performance through ‘the eyes of management’
• Externally reporting performance information should be consistent with internal management reporting
• Learning to report within IFRS in Finland- But IFRS is not enough
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Recurring themes play out in explicit requirements
• Contextual information that enables a more complete understanding of current and prospective financial results and position
• Expanded information on both financial and non-financial performance measures
• Forward-looking information for assessing prospective performance
• Information on key performance indicators that companies use in managing their business
… but little guidance on what good corporate reporting ‘looks like’
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How Trends 2005 can help
• Offers insights into how forward thinking companies are embracing the increasing demands for greater transparency
• Provides practical guidance to companies and the preparers of corporate reports to navigate the burden of recent corporate reporting legislation and regulation worldwide
• Provides good practices examples drawn from the external communications of 42 companies worldwide – demonstrates how to make effective links between the reporting of strategy and performance
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Each example gives detailed guidance
Expert commentary from PricewaterhouseCoopers
Indicates which elements of the framework are addressed in each example, and what aims they fulfill
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Who will benefit?• Standard setters and regulators
- A view on how companies should be reporting and the issues they face
• Preparers of corporate information- A practical framework which provides a starting point to shape external communications
• Investors- A proposed framework to access financial results within the context of total corporate performance
• Other interest groups- Current and future management and other employees- Auditors, researchers, other analysts
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PricewaterhouseCoopers
This framework and publication provides the practical guidance needed to make effective links between the reporting of strategy and performance, not just fulfilling the legislative requirements.
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Provides a practical framework for preparers of corporate reports