Australia

Financial reports – less clutter, more value 

Financial reports are increasingly lengthy and complex – reducing your ability to effectively communicate how your business is performing.
Financial reports – less clutter, more value
Even sophisticated readers can find it difficult to understand accounting jargon and identify important disclosures, including whether key financial measures have even been reported.

Bernie Szentirmay

Bernie Szentirmay

Partner, Audit

+61 3 9288 5423

    Breaking the boilerplate
    Typically, this involves removing non-essential material and irrelevant disclosures, re-ordering and re-labelling accounting policy and detailed notes to better reflect key financial measures and using plain English while still fully complying with relevant accounting standards and regulatory requirements.

     

    Benefits of cutting the clutter

    • Better alignment of messages/results reported to stakeholders
    • Improved internal communication and understanding of the financial report
    • Reduced length of the annual report, saving management time and report production costs.


    The end product is a simplified, sharper and more relevant financial report that is easier to understand.

     

    First step to Integrated Reporting

    For those entities evaluating the pathway to Integrated Reporting, cutting the clutter is a first logical step in improving the clarity of reporting to the capital markets and stakeholders.

     

    How we can help

    KPMG can help you streamline your financial reports in a number of ways by providing:

    • thought leadership and examples of de-cluttered disclosures
    • feedback on draft de-cluttered financials
    • management and Audit Committees with insight on the best way to approach the de-cluttering process
    • assistance in drafting de-cluttered financial reports and participating in project workshops and discussions.

Bringing clarity to financial statements

Bringing clarity to financial statements
We outline considerations for producing a simple, sharp and relevant financial report and include a case study of a KPMG audit client.

Better Business Reporting publications

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

Integrated Reporting Insights

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