In 1950 a group of business leaders established awards for excellence in preparing annual reports to improve the standards of financial reporting and communicating with stakeholders in Australia. These Awards, now known as the Australasian Reporting Awards (ARA), have been presented every year since then.
The Awards are administered by Australasian Reporting Awards Limited, an independent not-for-profit organisation run by volunteer professionals from the business, government and not-for profit sectors, with the support of organisations concerned with the quality of financial and business reporting.
The ARA contributes to ongoing improvement in the quality of reporting by:
- Preparing and widely distributing criteria based on world best practice as guidelines for preparing an annual report;
- Conducting an annual seminar on reporting
- Recognising excellence in reporting with Gold Silver and Bronze Awards; and
- Offering constructive feedback to organisations that enter the Awards.
Awards & Events
The Awards provide all organisations that produce an annual report an opportunity to benchmark their reports against the ARA criteria which are based on world best practice. In the General Award, Gold, Silver and Bronze Awards are presented to reports that satisfy all or most of the criteria to recognise the achievement of a high standard.
Special Awards: Competitive Awards are presented in specific areas of annual reporting: Sustainability, Governance and Work Health & Safety; and Online Reporting, Integrated Reporting and Communication. Organisations must enter the General Award to be eligible to enter one or more of these Special Awards.
There is also the Report of the Year Award, the ARA Chair’s Award for the Best First Time Entry and the Chair’s Commendation which is awarded to organisations that achieve ten or more consecutive ARA Gold Awards.
Feedback Sessions: A unique aspect of the ARA Awards process is the opportunity to receive constructive advice and guidance from an ARA adjudicator. Feedback sessions are only available to organisations that enter the Awards.
Awards Presentation Dinner:Award recipients are acclaimed at an Awards Presentation Dinner celebrating excellence in reporting that has become a highlight of the business social calendar. The Dinner is held in June in Sydney and Melbourne in alternate years.
Seminar on Reporting: An annual Seminar on Reporting is held on the day following the Awards Dinner. The Seminar includes presentations on topical issues in reporting and on the practical how to aspects of preparing an annual report.