Awards Committee Comments

As Coordinators of the Annual Reporting Awards, we have witnessed an extraordinary year with the largest number of Gold Awards (75) in the 73-year history of the ARA. This is a testament to the commitment of many organisations to communicating effectively about their business activities, performance and future directions.

However, amidst this success, we have noticed an emerging gap in quality across the Gold Award reports. The recipients of the ‘higher scoring’ Gold Awards tend to be those that embrace new and emerging trends in reporting, and ensure their report reflects contemporary community and investor expectations.  On the other hand, some organisations appear to be relying on the merits of their past successful reports rather than continuously improving their reporting. Those that do not continue to evolve are at risk of not maintaining a high standard.

We found the best reports are capturing and reporting on, or indicating their intent to begin reporting on new subject areas such as climate change, and the organisation’s efforts to reduce environmental impacts and transition to net zero. Many organisations are now aligning themselves with the United Nations Sustainable Development Goals in reporting on their material activities and risks, and their progress in mitigating risks.

When it comes to people and human resourcing, we have seen an increasing emphasis, (where appropriate) on disclosing actions taken to address modern slavery, in line with international objectives.  Regardless of the reporting sector, gender equity and the creation of diverse and inclusive workplaces are key topics that reporting organisations should address. Safety and wellbeing in the workplace remain important. We found the best reporting organisations are now extending this to encompass mental wellbeing and the impacts of psychosocial hazards.

Technology-related disclosures have also gained significance, with the best organisations highlighting the importance of cyber security and the potential impacts on business continuity if security was neglected. Given recent breaches in data integrity, assuring shareholders, customers, donors, and taxpayers about the  measures in place to protect businesses and personal data has become a vital aspect of disclosure.

In the Community and Welfare sector, transparency and accountability have assumed much greater importance internationally. Many not-for-profit organisations, including volunteer and donation-dependent entities, are now more fully disclosing their progress, challenges and opportunities in their annual reports to demonstrate their stewardship of resources and funds, and to build trust with stakeholders.

Coordinators have also observed the reports which have consistently improved are from organisations which actively seek feedback, not only to reach Gold Award status but also to maintain it. By seeking to learn from others, these organisations are acknowledging the organic nature of the annual report, and the need for nurturing for it to continually evolve.

As we gradually return to a sense of normalcy following the pandemic, we remain dedicated to enhancing the quality of annual, sustainability, and integrated reporting. We encourage everyone to seek to achieve excellence in reporting.

Alan Colegate, ARA Chair, for the Awards Committee

[The ARA Awards Committee is comprised of the coordinators of the adjudication panels for the various industry sectors.]

Each year the ARA Awards Presentation culminates in the announcement of the ARA Report of the Year. In past years the Report of the Year has been selected from among the Gold Award recipients. Following the introduction of the Best in Industry Sector Awards in 2021 the Report of the Year is now selected from among the winners of these Awards.

Report of the Year Finalists