Strategies for reporting success

05 July 2016

We are now well underway with our annual review of FTSE 350 companies, the process where we nominate companies for consideration by our external judging panel for the Building Public Trust Awards (BPTA).

2016 will be the 14th successive year in which PwC has presented these annual awards for outstanding corporate reporting. Each of the hard-earned awards recognises the achievement of organisations that have differentiated themselves through the clarity and transparency of their reporting – in short, showing the way forward on the journey towards ‘telling it how it is’.

As a reminder, a full list of the Building Public Trust Award winners of last year can be found here.

Reporting interviews

In order to better understand what these companies did to stand out from a reporting perspective and to share these learnings with you, we caught up with some of the 2015 winners and have recorded our conversations in a series of interviews you can find below.

In these short interviews, we asked questions centred around two main themes:

  1. Why reporting matters to them: What do they see as the advantages/benefits of better reporting? What was the catalyst? What were they most proud of? Etc.
  2. How did they do it: What did it take? Who is involved in the report’s development? How engaged were the executives/board? What were the key challenges and how did they overcome them? Etc.

Some consistent themes from their responses are:

  • They view the annual report as an opportunity rather than a compliance burden.
  • They want to maximise the ROI for their efforts – if something’s worth doing, it’s worth doing properly.
  • They take pride in their output and clearly see the benefits of effective reporting.
  • They plan early and are prepared.
  • They get the right level of engagement from the Board.
  • They view the annual report as part of a year-round process and not just a year-end project.
  • The annual report team are aligned to a common purpose.

 For more detail, please read the full interviews using the links below.

 

    Legal & General

Andrew Price (Group FC) from Legal & General - Joint winner of the 2015 Excellence in reporting in the FTSE 100 award

 

  United Utilities
Russ Houlden (CFO) from United Utilities - Joint winner of the 2015 Excellence in reporting in the FTSE 100 award

 

  Provident Financial
Gary Thompson (Group FC and Head of IR) from Provident Financial - Winner of the 2015 Excellence in reporting in the FTSE 250 award

 

  Great Portland Estates
Nick Sanderson (FD) from Great Portland Estates - Winner of the 2015 Strategic reporting in the FTSE 250 award

Also, if you’d like to get in touch around our BPTA process this year and/or want to consider how your report fares with the rest of the FTSE 350, please do get in touch. As well as collating a number of statistics on reporting trends, our review also enables us to gain insight into the current state of reporting and to gather good practice examples. Similar to prior years, our review centres on three key pillars of good reporting - content, quality and integration. You can find more information on these criteria here.

As we progress with our review, stay tuned to this blog and our website where we will release our findings in due course.

Gurpreet Kaur | Corporate reporting specialist
Profile | +44 (0) 20 7804 6625

 

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