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ACCA finds that corporate reports are being held back by confusion over their different audiences, their complexity, and lack of timeliness. Instead, there is a need for a greater focus on forward-facing plans, risk management, and their coherent, effective integration into corporate reports.

The survey of 500 investors, capital providers, suppliers, customers, and report preparers in the UK, US, and Canada found that:

• 50% of respondents named the annual report as their primary source of information about a company
• 41% said the corporate report was an easy way to assess information about a company
• 48% said too much ‘promotional material’ crept into reports
• 47% thought that reports were too long
• 40% said reports were too general purpose
• 35% felt reports are too backward-looking
• 35% said reports were too complex; of this figure, 68% blamed reporting standards and 61% blamed legal requirements
• 26% felt it was difficult to assess a company’s performance from their corporate report

The survey also asked what information stakeholders wanted to see in reports that was not already:

• 71% thought companies should report more on potential risks that could affect their performance
• 70% said the most pressing issue for companies to report on was how they intended to manage or mitigate key risks
• 59% said the inclusion of social and environmental data through an integrated report would add value.
• Stakeholders expressed an interest in real-time, externally assured, reporting
   

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