Bengaluru, November 25, 2024: With corporate reporting undergoing significant transformation in a rapidly evolving business environment, ACCA (the Association of Chartered Certified Accountants) has published a new report, Principles of good corporate reporting. Designed to address the increasing complexities posed by new accounting and sustainability frameworks, rising stakeholder expectations, and technological advancements, it provides businesses, policymakers and other organisations with essential guidance.

‘The corporate reporting landscape is becoming increasingly complex, with a multitude of frameworks, buzzwords, and regulations emerging to keep pace with dynamic business needs, technological advancements, and new priorities such as sustainability and the social impacts of business,’ says Hsiao Mei Chow, author of the report and head of corporate reporting insights – sustainability at ACCA.

ACCA has set out eight principles in the report:

1. Embed connectivity and coherence
   Encourage better linking of financial and non-financial information to create a cohesive organisational narrative that clarifies strategy, risks, and value creation.
2. Apply a ‘building blocks’ approach, building on a global baseline
   Support consistency by adopting a global baseline for reporting standards, while balancing the need for regional adaptations.

3. Be principles-based and apply proportionality

Adopt an inclusive, principles-based approach to reporting that scales with an organisation’s size and resources. 

4. Maximise comparability, with interoperability as a catalyst

Enable meaningful comparisons across sectors through collaboration and harmonised approaches to reporting. 

5. Understand and meet stakeholders’ information needs

Focus on delivering decision-useful insights tailored to the needs of varied stakeholders. 

Take a holistic approach to corporate reporting

Present a balanced view of financial and sustainability-related information, showing the full scope of organisational impact.

6. Enable and support good governance practices

Establish and disclose ethical, sound governance structures to build credibility.

7. Ease access and avoid disclosure overload
   Strive for clear, concise reporting that avoids overwhelming stakeholders.

ACCA’s Principles of Good Corporate Reporting serves as a comprehensive guide to navigating the complexities of modern reporting, empowering businesses and other organisations, as well as policymakers and regulators, to work together in fostering responsible, sustainable business practices. Read the full report here.

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