Australia

Better business reporting 

Competition for capital in today’s environment is fierce. Failure to communicate effectively with the capital markets can result in poor capital allocation decisions and a weak understanding by the capital markets of your businesses strategies and performance prospects.
Enhancing business reporting

There is growing acceptance that current financial and sustainability reporting practices are of limited use for those seeking to differentiate between competing investment opportunities or influence corporate reputation.

 

As a result, there is now worldwide momentum towards Better Business Reporting

Michael Bray

Michael Bray

Leader, Better Business Reporting Group

+61 3 9288 5720

Integrated Reporting Insights

This series of short videos provides insights into the global debate and the evolution of corporate reporting in Australia.

Businesses that make the transition towards improved communication with the capital markets now stand to reap significant benefits both now and in the future.


Getting started
The journey to Better Business Reporting can and should start now. It begins by improving and consolidating what is already reported. This includes improvements to financial information, sustainability reports and management commentary. 

 

The next step in the journey aims to overcome the limitations of today’s reporting model by incorporating forward-looking, strategic key performance indicators and using management commentary as an opportunity to bring this together.


The endgame
The outcome for better business reporting is the development of a flagship business report that fully integrates critical business performance information, traditional financial reporting, management commentary and sustainability reporting to allow external analysts, investors and others to make informed judgements about the entity’s prospects. 

 

The formation of the International Integrated Reporting Committee (IIRC) is one of the most significant developments in business reporting in recent years. The IIRC is expected to release an integrated reporting exposure draft by 2012 with an integrated reporting standard endorsed by the G20 and International Accounting Standards Board by the end of 2013. 


The benefits 
The benefits of better business reporting include:

    • more efficient capital allocation
    • streamlined reporting processes
    • reduced reporting costs
    • enhanced organisational clarity in terms of business strategy and the business model.

 

How we can help

KPMG’s Better Business Reporting Group is at the forefront of business reporting developments worldwide. We work closely with the Business Reporting Leaders Forum in Australia and the IIRC on driving change in the format and process of business reporting.

Better Business Reporting publications

We examine the journey to improved communication with capital markets and development of better business reporting frameworks and practices.

Audit

Independent audit services to help enhance the reliability of information prepared by clients for use by investors, creditors and stakeholders.

Automating Business Reporting

Automating Business Reporting
This publication discusses how technology such as XBRL can be used to automate aspects of current reporting obligations.