ICSA: Putting Governance Disclosure in Annual Reports on the Map

Companies in the FTSE 350 have been recognised for excellence in their governance disclosure in annual reports

LONDON--(BUSINESS WIRE)--With the BBC under intense scrutiny over its governance arrangements, the importance of transparency is at an all time high. High-quality disclosure generates confidence in a company since it provides investors with evidence that companies are well-run and in a position to create value for their stakeholders. Against this backdrop, organisations which have demonstrated best practice in terms of their disclosure in annual reports had their efforts rewarded at the ICSA Hermes Transparency in Governance Awards held at the Brewery in the City on the evening of 14 November.

Speakers at the Awards ceremony included Dick Olver, Chairman of BAE Systems plc and Chair of Judges and Baroness Sarah Hogg, Chair of the Financial Reporting Council.

Dick Olver said: ‘Transparency in corporate governance is not a nice-to-have, but a business imperative … and a vital source of competitive advantage.‘

‘There’s a lot more to be done to get rid of the clutter’ said Baroness Hogg ‘ but it’s great to be reminded that there are companies who manage to give clear explanations in their annual reports despite all the restraints imposed, including by regulators’

In choosing winners, the judging panel singled out companies which best provided evidence, through their annual reports disclosure, that they are embedding high-quality governance within their company and are engaging their stakeholders.

The award winners are as follows:

Best annual report (In association with Black Sun plc)

FTSE 100: Johnson Matthey plc

FTSE 250: Great Portland Estates plc

Best board disclosure (in association with ICSA Board Evaluation)

FTSE 100: Marks & Spencer plc

FTSE 250: Telecity Group plc

Best strategy and risk disclosure

FTSE 100: Tullow Oil plc (Sponsored by Board Intelligence)

FTSE 250: Shanks Group plc (Sponsored by Addleshaw Goddard LLP)

Best sustainability and stakeholder disclosure (Supported by the International Integrated Reporting Committee)

FTSE 100: Johnson Matthey plc

FTSE 250: Drax Group plc

Best small cap or AIM report (Supported by the Quoted Companies Alliance)

McBride plc

ICSA and Hermes Equity Ownership Services would like to thank the award sponsors and supporters. These include ISS, Black Sun plc, ICSA Board Evaluation, Board Intelligence, Addleshaw Goddard LLP, International Integrated Reporting Committee and the Quoted Companies Alliance.

ICSA

ICSA is the membership and qualifying body for board and company secretaries, in-house lawyers and other professionals working in governance and compliance roles.

Hermes EOS

Hermes EOS was launched in 2004 and is a pioneering advisory service which enables its clients to be responsible investors and owners of companies.

Its key aim is to support pension schemes, insurance funds and other long-term investors to meet their fiduciary responsibilities and become active owners of public companies.