Financial reporting practices benchmarks

Benchmarking concept

In-depth comparison of peer group reporting practices in financial statements.
Reporting quality monitor, with focus on key disclosures under IFRS relating to major accounting topics.
Provides numerical scores on the overall performance as well as for each accounting topic.
Identification of best practices and suggestions for improvement.
The benchmarks add value by improving financial reporting transparency, reducing cost of capital, and so increasing shareholder value.
An abbreviated specimen report can be found at: Specimen financial reporting practices report.

Scope of the report

Focus on IFRS reporting quality – minimum standards as well as voluntary disclosures
Overall analysis of performance:
  Numerical score & rank of overall performance in comparison with peers
  Summary of overall performance
  Summary of suggestions for improvement
Analysis of each of the key accounting topics:
  Focusing on accounting issues from selected topics
  Identification of best practice and potential compliance issues
  Numerical score & rank to illustrate any deviation from best practice
  Qualitative explanation of reasons for each score
  Discussion of key disclosures
  Suggestions for improvements
Extracts from company annual reports to demonstrate best practice

Coverage: Reporting topics

The topics can be tailored to your requirements on a bespoke basis

IFRS topics:

Accounting policies   Post-employment benefits
Capital management   Property, plant & equipment
Equity accounted investments   Provisions & contingencies
Financial instruments   Related parties
Impairments   Revenue recognition
Insurance contracts   Risk management
Intangible assets   Segmental information
Inventories   Share-based payment
Leases   Taxation

Non-IFRS topics:

Management commentary        Non-financial performance

ESG topics:

Environment:   Governance:   Social:
  Carbon emissions     Anti bribery & corruption     Compliance statements
  Climate change opportunities     Anti-slavery     Diversity
  Compliance statements     Anti-trust & competition     Economic impact
  Conservation     Business model     Human rights
  Energy & renewables     Compliance statements     Local community
  Environmental footprint     Customer relations     Metrics
  Metrics     Cyber security   
  Product life cycle     Employee relations   Sustainability:
  Water and waste     KPI monitoring     Compliance statements
      Metrics     Innovation
      Public policy     Metrics
      Stakeholder relations   
      Supplier relations   
      Tax strategy