https://padlet.com/sbsgc/4ogz7xly1utlyz9u Is CR, in its current state, useful? en-us 2020-11-24 08:58:21 UTC 2021-11-15 06:07:09 UTC hello@padlet.com https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959305307 CR is not useful:
- Report found that there is conditions for radical change that exists, therefore the current way of CR is not working for the majority
- Increased demand for financial information and non-financial in particular to be improved, from stakeholders. The CR is aimed for stakeholders and capital providers, so if they are not satisfied with info provided then the CR is not useful
-  'Producing separate reports for other stakeholders is a sensible, where relevant'
- The inconsistent accounting treatment of intangibles needs to be looked at again,
- ' Is a concerted international effort needed to encourage adoption of a consistent global approach to non-financial reporting' Therefore for potential shareholders and capital providers will have consistent information from company to company ]]> 2020-11-25 09:56:14 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959305307 https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959323302 Challenges to the usefulness of CR:
- Reports continually getting less concise, more focus on style over substance 
- Narrative can obscure the raw data in a way that favours the company
- Inclusion of several different directors' reports means that messages are usually repeated, meaning conciseness cannot be met 

]]> 2020-11-25 10:03:49 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959323302 https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959331780 Every single recorded year the length of the Annual report has increased. From  135 pages in 2015 to 185 pages in 2020. 


]]> 2020-11-25 10:07:22 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959331780 https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959337236 2015-2020:
 CSR disclosures increased from 34% to 90%. 
Creation stories increased from 54% to 71%.
Company culture now mentioned in 90% of reports, whereas before there was rarely even a subheading about them.
Yet only 16% discuss Brexit as a possible risk. 
They are only including metrics that make them look good and ignoring potential risks, due to inclusions being voluntary comparability is limited. ]]> 2020-11-25 10:09:40 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959337236 https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959337283 - Due to COVID, now more than ever other companies and the general public are interested in the actions of entities. It would be the perfect time to make them more accessible/understandable to a wider audience.
- More of a crossover between shareholders and stakeholders expectations than previously thought. 
- Each kind of stakeholder would be acknowledged and targeted individually, providing a more unique and personal experience.
- There would be a new set of principles that blanketly covers all CR bringing coherence and transparency.
- 'Accessibility, Connectivity, Consistency, Transparency'.
- The aim is to become more flexible and agile when informing stakeholders and in return they place their trust in a company. More trust ]]> 2020-11-25 10:09:41 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959337283 https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959348262 - The process of making reports is costly and therefore gives an unfair advantage to larger organisations
- Multi-national companies may have issues with different accounting policies for different operations, can cause confusion for stakeholders
-Freedom over standards used means that manipulation of reports can occur (e.g full disclosure not being included)

]]> 2020-11-25 10:14:10 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959348262 https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959395520 In 2020 90% of companies surveyed ‘acknowledged’ climate change and 64% referred to the TCFD (Task force for Climate related Financial Disclosures). However, only 22% made  disclosures of donating money to them.

They are padding their reports saying what people want to hear, but not doing anything to make a difference. They are merely window dressing. 

]]> 2020-11-25 10:33:56 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959395520 https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959403702  90% of boards described a mechanism they use to monitor company culture. Only 34% of companies explained clearly why diversity was important to their overall strategy. Most disclose it even fewer attempt to do anything about it. They're just ticking boxes.]]> 2020-11-25 10:37:40 UTC https://padlet.com/sbsgc/4ogz7xly1utlyz9u/wish/959403702