1fQhDbn

thwrn.news
  • No tags were found...

1fQhDbn

MenuAt a glanceIntegrated thinking—and reporting—change the questions executives ask, from shorter-term andfractured to more forward-looking and holistic.Financial reportingIntegrated reportingDo I understand the company’s finances?What resources does our successdepend on—including money, goods,intellectual property, people, relationships,and energy and raw materials?How did my company performfinancially in the last 12 months?Does my sustainability reportingmeet stakeholder expectations?How does our business createvalue in the short, medium andlong term? Are there unexpectedissues that could damagepublic trust?CEOBoardCSOExactly how does our sustainabilityperformance contribute to strategicbusiness goals?How effective are my financialsystems and processes?Are non-financial measures reliable,credible, and produced timelyenough for decision-making?CFOCROCOOIs my reportingcompliant?How complete is thepicture I’m giving to mystakeholders about mycompany’s short-,medium-, andlong-term risks?Has each department provided itspart of the report?Have my finance, sustainability,investor relations, corporate governance,legal, and marketing teamsworked together to develop metricsrelated to my company’s strategy?


Menu03Improving operations,holding teamsaccountable93%…of companies pioneeringintegrated reporting sayit helps remove barriersbetween departments.Source: Black Sun plc, Understanding transformation: Buildingthe business case for integrated reporting, 2012.Interestingly, integrated thinking—and reporting—have a way of fixing fragmentation or strengtheningconnections within the business. As HSBC’s groupchief accounting officer, Russell Picot, characterizesit, integrated reporting “provides a unifying,integrating force within a company. The CEO, themajor business heads, and the department heads aregetting into a room and discussing how they createshareholder value and how they communicate thatto the market—and that’s really powerful.” 14Companies that are piloting integrated reportinghave found that it’s created better communicationbetween departments responsible for strategy,controls, IT, investor relations, finance,sustainability, and communications, amongothers. 15 This, in turn, has led to other benefits,including more focus on the company’s materialissues, more alignment around strategic goals,and a better understanding of performance gapsand opportunities. For example, as part of AEP’sintegrated reporting process, the company routinelybrings together parts of the business that mightnot otherwise interact. At the start of its move tointegrated reporting, a meeting between its facilitiesand sustainability groups resulted in an initiative toreduce the company’s own energy use. The resultover the five-year period? A $16 million savingsfrom reduced consumption—electricity that couldbe sold to its customers or the wholesale powermarket rather than used for internal operations.Better information sharingOnce different groups begin to work together moreclosely through the integrated reporting process,they may find they need a way to more easily shareinformation. This may require rethinking processesfor collecting and analyzing data. For example,integrated reporting requires financial and nonfinancialkey performance indicators (KPIs) to bebased on similar scopes, timeframes, and units ofmeasurement. Ultimately, aligning financial andnon-financial systems and processes can create aleaner, more streamlined organization.More informed decision-makingIntegrating financial and non-financial data alsomeans that company leaders have more consistent,reliable, and complete information to work with.As an example, looking at operational costs andenvironmental impacts side-by-side can revealefficiency opportunities. This type of access tointegrated information can help management makemore informed and strategic decisions.14 PwC, World Watch, Issue 2, 2013.15 Black Sun, Understanding transformation: Building the business case forintegrated reporting, 2012.


MenuTwo ways to get10Minutes on youriPhone and iPadLoyal 10Minutes readers already know about our handy 10Minutes app. Now, we invite youto try PwC’s new 365 app for your iPhone and iPad. It’s free, user friendly, and even fun.You’ll get:Fresh business insights. We add new thoughtleadership pieces daily so you can stay up to date onour latest insights, including 10Minutes.Personalized content. You can customize theapp to pull insights from a choice of 10 topics, 27industries, and 9 thought leadership collections,like 10Minutes. You can also keyword search allour content.Simple sharing. You can send articles, charts, andvideos through one-tap buttons to e-mail, Facebook,LinkedIn, and Twitter—all without leaving theapp. You can also bookmark your favorite stories toread offline.A like-minded community. Our people are allon 365, and you can be, too. Register, create yourprofile, and join the conversation. Or just let usknow if you Like something.Easy access to our people. The subject matterspecialists behind each of our stories are reachablethrough the app with just a tap through to callor email.10Minutes are now available in60 seconds.Install the free standalone 10Minutes appor the new PwC 365 app to connect to ourinsights and people.


MenuHow PwCcan helpTo have a deeper discussion about integratedreporting, please contact:Kathy NielandUS Sustainable Business Solutions Leader+1 (504) 558 8228kathy.nieland@us.pwc.comNatalie TeearManager, Sustainable Business Solutions+1 (646) 471-0210natalie.a.teear@us.pwc.comTim RyanVice Chairman and Markets, Strategy andStakeholders Leader+1 (617) 530-7376tim.ryan@us.pwc.comKayla GillanPwC Investor Resource Institute Leader+1 (202) 312 7525kayla.j.gillan@us.pwc.comTell us how you like 10Minutes and what topics youwould like to hear more about. Just send an emailto: 10Minutes@us.pwc.com.Mark O’SullivanDirector of Corporate Reporting+1 07730304057mark.j.osullivan@uk.pwc.com© 2014 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the United States member firm, and maysometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content isfor general information purposes only, and should not be used as a substitute for consultation with professional advisors. 10Minutes ® is a trademark ofPricewaterhouseCoopers LLP US.Solicitation.PwC helps organizations and individuals create the value they’re looking for. We’re a network of firms in 157 countries with more than 184,000 people whoare committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com/us.LA-14-0117

More magazines by this user