Tomorrow’s Corporate Reporting: A critical system at risk focuses on the systems architecture and the behaviours and values of its stakeholders. Not on the content of the ‘ideal corporate report’. By corporate reporting we mean all the mechanisms by which companies communicate their performance and activity to their stakeholders, with a particular emphasis on the flow of information into the investment community.The study looked at:What aspects of the system are preventing or supporting the effective development of corporate reporting? And what changes are needed to make the system fit for purpose for the future? During the research, 145 individuals provided evidence, were interviewed or engaged through roundtable discussions, representing 118 organisations from 22 countries across five continents. The report explains the components of the current system and highlights that very few, if any, stakeholders see it as a system – rather they see particular pieces of the jigsaw. The...

The financial crises of the last decade have demonstrated serious shortcomings in the understanding of corporate business models, the alignment of incentives, and the management of risk. The current corporate reporting model has not highlighted where these shortcomings exist. This failing is exacerbated by the pace of change of business today, with a plethora of new challenges impacting long-term success, including a shift in the global balance of power, resource constraints and climate change.

The Chartered Institute of Management Accountants, PricewaterhouseCoopers and Tomorrow’s Company are setting up a global study on how to improve corporate reporting. We are now launching the first phase, which includes a call for evidence.  Please click download for more information and to contribute your evidence. To respond to our Call, please email evidence@tomorrowscompany.com.

It will not have escaped many of your attention that I have been vocal of late about the importance of good governance. Indeed this is my second speech on the topic for our hosts today in the space of a week!So whilst I make a small apology to those who may be experiencing a slight feeling of déjà vu at this point, I make no apology for reiterating the point. Well-run companies are founded on sound governance. If the global banking crisis has taught us anything, it is that poor decisions were made. Decisions went unchallenged.Decisions were allowed to stand.Good decision-making requires three things.It requires excellent judgement to identify opportunities and spot emerging risks.It requires robust governance to ensure that those judgements are in the long-term interest of the company, and to ensure that when judgement fails, there is a back-stop.And it requires owners to care. It requires shareholders and those who act on behalf of shareholders to take an active role in holding...

In Tomorrow's Global Talent we asked how leading global companies create value through people and challenged how we think about talent. We argued that talent is abundant, not scarce; that talent exists at every level, not just the high fliers and that the key challenge is how to inspire, engage and harness talent.In our new UK based report, we have talked with business leaders, in the UK and abroad to find out if and how businesses in the UK are coming to terms with globalisation, and with the new drivers of value creation and as a result what this means for talent management in the UK.We argue that as a nation we must pay our way through our one natural resource – the talent of our people, but that we can do this if we have a shared sense of national purpose, one which embraces the world we are a part of.  We argue that we are being held back by a 'fortress Britain' mentality - this could mean huge problems for us as a nation, whilst failing to harness the talent of our people,...