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Gives broad information, so that future performance/intentions can be forecasted better

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Gives broad information, so that future performance/intentions can be forecasted better

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Through the providing of accurate, historical information, corporate reports allow stakeholders to better assess the direction a company and the expected future performances.

ACCA (Pg.4) - Tenets of good corporate reporting

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The willingness of companies to innovate & adapt their reporting shows that it must play a helpful role for the business to provide info for stakeholders.

Businesses wouldn't spend time and money developing their reporting process if they didn't believe it had benefit. They would just look to meet standard requirements.

Wetherspoons PLC are a good example of a company who's reporting has not changed much over the years. They just look to meet the basic requirements of reporting and explain briefly why they exclude do not adopt parts of the UK governance code.

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helped companies provide  information for a wider range of stakeholders

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helped companies provide  information for a wider range of stakeholders

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Deloitte annual report insights 2019:  46% of companies surveyed gave a clear, prominent description of their purpose beyond making profits for shareholders.
Deloitte annual report insights 2018:  32% of companies surveyed gave a clear, prominent description of their purpose beyond making profits for shareholders

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M&S Annual Report 2020 - Maximised information available to stakeholders

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M&S Annual Report 2020 - Maximised information available to stakeholders

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They provide clear overviews of the most relevant areas to stakeholders; structured so that if more info is required, the user can directly access it in the report or sign-posted elsewhere.

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Primary source of information for various stakeholders

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Primary source of information for various stakeholders

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ACCA 2012 -  '50% of our respondents confirmed that the annual report is still their primary or only source of information.'

This shows that although there are questions surrounding the complex nature of corporate reporting, annual reports are still heavily relied upon as the main source of information for many users, including: capital providers, credit providers and employees. In some cases annual reports are the only source of information.

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Able to be more concise and clear, reducing length
key communication to stakeholders

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Reflects wider societal concerns of the business (Climate Change)

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Reflects wider societal concerns of the business (Climate Change)

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Deloitte 2019 - Over half explicitly refer to Climate Change, 20% mention the TCFD (Task-force on Climate-related Financial Disclosures), but only 4% were 'fulsome disclosure)
Deloitte 2020 - 90% of companies acknowledge climate change and 64% referred to TCFD, only 22% made fulsome disclosure.

Demonstartes a significant increase over the year in the importance placed on CSR reporting and the disclosure to official bodies.

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Enables engagement with all stakeholders

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Enables engagement with all stakeholders

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Deloitte 2018 Insights - '94% of companies described, to varying detail, how they engaged with their stakeholders'.

Shows how Corporate Reporting allows companies to express how they're acting in stakeholder interest, but limited as 'Almost 50%' gave an indication of the outcome of engagement.