Preparing a Summary Annual Report

Regulatory and standard-setting bodies are constantly “improving” the rules to protect the interests of investors and to make sure they have good information for decision making. As a result, disclosure requirements increase and information disclosures become more complex. One way to address complexity and information overload is to prepare a summary annual report. As a start, condensed financial statements, together with an auditor’s report, could be provided. In addition, reference would be made to the organization’s website for the complete audited financial statements and the detailed management’s discussion and analysis to meet legal and regulatory requirements. For an excellent example, see PotashCorp 2006 Summary Annual Report and website disclosures using keywords.