Building Public Trust Award “For Telling it How It Is” in the FTSE 100
Reporting excellence is demonstrated when a balance is achieved between the three pillars of reporting - content, quality and linkage. Within content we look at the information the company has chosen to report – does it include all the elements we would expect to see and focus in on the key messages? Does it provide a balanced assessment of the quality and sustainability of the underlying operating performance of the company? Quality refers to the depth of the information – does the company use only qualitative information or is it supported with quantitative data, benchmarks and targets? Does the report cover the past, present and future? Finally, for linkage, we consider how well a company demonstrates a clear and consistent message throughout its reporting and whether the different elements of the report relate back to the strategic themes set out as key to company success.
Specific areas we focus on include:
- A clear explanation of what the company does, supported by a comprehensive analysis of its marketplace;
- An explicit statement of the long-term direction of the company, supported by the short-term strategies to pursue this, with clear use of specific targets;
- A consistent message or story running throughout based on the stated strategic themes;
- An explanation of how strategic performance is measured over time, accompanied by supporting trend data;
- An insight into the key resources and relationships managed by the company in order to fulfil its strategic objectives;
- An appreciation of the company's approach to sustainable development and how this links to the strategic ambitions of the company;
- Clear analysis of the principal risks the company faces in meeting its strategic aims;
- An innovative explanation of financial numbers to help readers better understand the key financial data of the company.
