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ReportingNZ – CPA Congress 2016 Panel discussion: Integrated reporting: Changing the corporate mind-set from one of compliance to it becoming a business imperative. Wendy McGuinness, 18 October 2016
Contributing to an informed society
‘Ongoingeconomichardshipinmanypartsoftheworld,includingthelong-termeffectsofac:onstakentostabilizethefinancialsystemimmediatelyfollowingthecrisis,hasemphasizedthedividebetweenthe“haves”andthe“havenots.”This,combinedwiththepublic’sobserva:onthatthepeoplewhosebehaviorscausedthecrisishavenotbeenheldaccountable,hasresultedinconsiderablepoli:calunrestincludingmovestowardwhatseemlikemoreextremepoli:calnarra:vesandchoicesacrossthedevelopedworld.’
Latest Report October 2016
Theorganisa:onsthat:1. Promoteandsellsharesandother
instrumentstomembersofthepublic
2. Usepublicfunds3. Employalargenumberofpeople4. Useandpollutepublicassets5. Havealargenumberofsmall
shareholders(e.g.SouthernCrossandIwiorganisa:ons)
6. Areoverseas-ownedserviceprovidersandbuyersofstrategicassets
7. AreindustrygroupsandNGOsthatpromoteideasandlobbyofficials
8. Policethelegisla:onandguidelines–theregulators
Who do the public rely on?
$0
$20,000,000,000
$40,000,000,000
$60,000,000,000
$80,000,000,000
$100,000,000,000
$120,000,000,000
$140,000,000,000
$160,000,000,000
$180,000,000,000
TotalofallDeloi`eTop200Companies(2015)
GovernmentofNewZealand(30June2016)
Revenu
e($)
Total Revenue
$0
$50,000,000,000
$100,000,000,000
$150,000,000,000
$200,000,000,000
$250,000,000,000
$300,000,000,000
$350,000,000,000
TotalofallDeloi`eTop200Companies(2015)
GovernmentofNewZealand(30June2016)
TotalA
ssets($)
Total Assets
Deloi3e2015Top200CompaniesThiscomparesthe2015Deloi`eTop200companieswiththe
NZSXAllSecuri:esasat14October2016
Deloi`eTop200companieslistedontheNZSX
Deloi`eTop200companiesnotlistedontheNZSX
27.5%
72.5%
[GDS001]Opportunities & Threats
Approach & Focus
Alignment& Authority
Capabilities& Resources
Implementation& Accountability
Vision & Benefits
This GDS’s score Average GDS scoreAverage sector score
4
8
12
16
Improving strategy reporting
ForesightNZ playing cards See www.foresightnz.org.
Possible ways forward • RequireallNZSXcompaniesandgovernmentdepartmentstopublishextendedfinancialreports
by2020;providinginforma:ononforesight,strategyandchangesinthefourcapitals(economic,natural,socialandhuman).
• ExpandtheCompaniesOfficeroletomakeitresponsibleforregisteringtheannualreportsofallNewZealandorganisa:ons(andbecomeaone-stopshopforthepublic).
• Requireallgovernmentdepartmentstopublishalistoftheirstrategydocumentsintheirannualreportsandforaregistertobemadeavailabletothepublicofallgovernmentdepartmentstrategydocuments.
• RequireallsignificanthealthandsafetyincidentstobepublishedbothintheannualreportandintheCompaniesOfficeregister.
• Requireallsignificantenvironmentalincidentsandsubsequentpenal:estobepublishedinboththeannualreportandtheregisterattheCompaniesOffice.
• Requireorganisa:onsthatuseandpollutesignificantpublicresourcestoreportonthatuseandpollu:onandexplainintheirannualreporthowthoseimpactswereandwillbemanagedgoingforward.
• RequiretheCompaniesOfficetoclearlyrecordthe‘ul:mateholdingcompany’intheregisterandspecifythestockexchangeboard/sthecompanyislistedon–thiscouldhappenwhenthecompanyuploadsitsannualreport.
• RequiretheCompaniesOfficetospecifyasearchableformatforalldocuments(sothatthepubliccansearchacompany’srecords).
Thank you
Wendy McGuinness
McGuinness Institute Level 2, 5 Cable Street, PO Box 24222, Wellington 6142, New Zealand
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