Cutting the clutter in financial reports 

Financial reports are increasingly lengthy and complex – reducing your ability to effectively communicate how your business is performing.
Cutting the clutter in financial reports
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 and Assurance

+61 3 9288 5423


Financial reports de-cluttering in ASX200 companies

Financial report de-cluttering trends in the ASX200
Bernie Szentirmay on how business has embraced de-cluttering reports by re-ordering notes, removing immaterial disclosures and using plain language.

Integrated Reporting Insights

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

Better business reporting publications

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

    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.


    What are the standard setters saying?

    Both the International Accounting Standards Board and Australian Accounting Standards Board have been active in promoting the importance of preparing less complex financial reports that focus on those disclosures that are material to the entity. ASIC have also publicly stated that it only focuses on those disclosures that are material to the financial report.


    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.

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A new era in Corporate Reporting – ASX 200

A new era in Corporate Reporting – ASX 200
This publication shows how Australian listed organisations are embracing ‘cutting the clutter’ in their financial reporting.

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.

Making financial statements more relevant (2014/05)

This In the Headlines looks at the proposed clarifications by the IASB to IAS 1 Presentation of Financial Statements.