Building Public Trust Award "Excellence in Reporting" in the Public Sector

This award will be presented by PricewaterhouseCoopers in association with the National Audit Office.

Excellence in reporting 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 organisation 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 organisation? Quality refers to the depth of the information – does the organisation use only qualitative information or is it supported with quantitative data, benchmarks and targets? Does the reporting cover the past, present and future? Finally, for linkage, we consider how well an organisation demonstrates a clear and consistent message throughout its reporting and whether the different elements reported relate back to the strategic themes set out as key to success.

Specific areas we focus on include:

• Concise, well structured and accessible reporting;
• A clear explanation of the impact of trends and factors shaping the organisation’s market environment, supported by a comprehensive analysis of its regulatory, political and macro environment, including recognition of the future impact of IFRS on the organisation;
• An explicit statement of the long-term direction of the organisation, supported by the short-term strategic priorities and actions to pursue this, with clear use of specific targets;
• A consistent message or story running throughout based on the stated strategic themes;
• Clear analysis of the principal risks the organisation faces in meeting its strategic aims, including information on how these are mitigated and managed;
• An insight into the key resources and relationships managed by the organisation in order to fulfill its strategic objectives; In particular, in the current economic situation, what are the organisation’s plans and risks in respect of delivering increased efficiency, contributing to the Government’s Operational Efficiency programme;
• An understanding of stakeholders and their concerns and interests;
• Value-for-money for the taxpayer. The level of information and the quality of documentation, to be balanced against the costs of production;
• An explanation of how strategic performance is measured over time, accompanied by supporting trend data and future targets;
• Clarity in reporting of fundamental financial performance such as underlying drivers of financial results, cash and funding policies and positions, and segmental performance;
• An appreciation of the organisation's approach to sustainable development and how this links to the strategic ambitions of the organisation;