The 3C’s of Great Annual Reports©
Annual Report Best Practice Benchmarking
There are 3 key elements reviewed as part of the benchmarking process:
- Content that sets out the CONTEXT of the business
- Content that demonstrates the CONDUCT of the business
- CREATIVE elements of the overall look and feel of the annual report
The key areas for the review are based on the Jones and Palmer / Sagenius scorecard: The 3C's of Great Annual Reports© and includes the recommendations of the Investor Relations Society (IRS) best practice guidelines as well as the scoring matrix of the judging panel involved in the selection process for short-listing potential best practice IRS award winners.
Aims and purpose of the scorecard
The aim of the scorecard is to provide a detailed insight into the current strengths and weaknesses of the company's existing annual report with recommendations and actions for future reporting periods. Our recommendations are based on a comparison of "winning annual reports", a peer group review and best practice narrative reporting. Emphasis is also placed on the "readability" and "usability" of the information and key messages contained within the Annual Report.
Overall the purpose of the annual report benchmarking exercise is to support you in:
- Responding to the requirements of the Business Review to report principal risks and uncertainties and key performance indicators externally
- Developing the narrative reporting section of your annual report in line with current best practice guidelines
- Providing increased transparency to improve investors understanding of the company's corporate governance policies and practices
- Knowing how your company’s corporate reporting compares to your competitors’ or current best practice
- Articulating your company’s performance and strategy in action
Outcomes of the scorecard
The findings of the review will provide a framework for identifying and structuring the ongoing information and reporting needs of the business, as well as forming a useful resource for planning your corporate reporting strategy.
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