In 1950, to improve the standards of financial reporting in Australia, a group of leading business people established the Annual Report Awards. The Awards are now known as the Australasian Reporting Awards (ARA).
The Awards are run by Australasian Reporting Awards Limited, an independent not-for-profit organisation supported by volunteer professionals from the business community and professional bodies concerned about the quality of financial and business reporting.
The Awards provide an opportunity for organisations to benchmark their reports against the ARA criteria. The Awards are open to all organisations that produce an annual report. The General Awards are a measure of the standard achieved – they are not a competition. The Report of the Year and Special Awards are competitive.
The ARA has contributed to the dramatic improvements in the quality of reporting since 1950 by:
Special Awards have been introduced to encourage excellence in annual reporting in areas of: Sustainability, Governance, Occupational Health and Safety, Online Reporting and Communication. There is also a Special Award for the Best First Time Entry. For more information see Special Awards.
A unique aspect of the ARA Awards process is the opportunity to receive constructive advice from an ARA adjudicator. Feedback sessions are only available to Award entrants. For more information see Feedback Sessions.
Each year Award recipients are acclaimed at an Awards Presentation Dinner that has become a highlight of the business social calendar. The Dinner is held in Sydney and Melbourne in alternate years.
An annual Seminar on Reporting is held on the day following the Awards Dinner. The Seminar includes presentations on topical issues in reporting and a workshop on practical aspects of preparing an annual report.