Australia

Details

  • Service: Audit, Financial Statement Audit, Accounting Advisory Services, Regulatory Audit, Advisory, Risk Consulting, Board Advisory Services, Topics, Business Reporting
  • Type: White paper
  • Date: 11/04/2013

Better Business Reporting publications

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

The future of corporate reporting: towards a common vision 

As the global economy continues to reform its financial system, one crucial element of reconstruction is being ignored. The corporate reporting model in its current form does not meet the needs of investors – and it’s becoming increasingly difficult for the model to meet the requirements of preparers, auditors, regulators and standard-setters. Now is the time to begin a wide-ranging debate about what is wrong with the current model and how to change it.

KPMG’s The future of corporate reporting tested the premise that fundamental reforms were needed through interviews with 10 international leaders:

  • Neri Bukspan, Executive Managing Director, Standard & Poor's
  • Stephen Haddrill, CEO, UK's Financial Reporting Council
  • Hans Hoogervorst, Chairman, IASB
  • Julie Hudson, Head of Global Sustainability, UBS
  • Brian Hunt, CEO, Canadian Public Accountability Board
  • Christoph Hütten, Senior Vice President, and Mark Deinert, Executive Vice President, at SAP
  • Mervyn King, Chairman, International Integrated Reporting Council
  • Sandra Peters, Head of Financial Reporting Policy at the CFA Institute
  • Russell Picot, Group Chief Accounting Officer, HSBC
  • Joachim Schindler, Global Head of Audit, KPMG International.

  

Key insights

  • Investors want forward-looking information from companies so they can assess the ability to create sustainable long-term value.
  • Preparers need to connect the dots better in their public communications so that the balance of risk and opportunity is clearer.
  • Regulators are demanding more accountability from corporate boards.
  • Standard setters want to raise the bar for disclosure and analysis.
 

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Better business reporting

Better business reporting
There is worldwide momentum for better business reporting. We examine current developments and benefits for business.