Using the Internet in Corporate Reporting - A New CICA Research Report (Part 4)

In the CICA research report, Using the Internet in Corporate Reporting: Practical Guidance for Effective Communications with Stakeholders, the study group concludes that “The key to integrated reporting is Internet utilization serving as a platform to provide more detailed data than what is available only in hardcopy. In leveraging the Internet, users gain the ability to perform their own analysis of financial and non-financial data, as well as communicate their thoughts and opinions with investors and other stakeholders.” The study group is encouraged by the recent creation of an International Integrated Reporting Committee (IIRC). The IIRC comprises members such as the International Accounting Standards Board, the International Federation of Accountants, the Big Four public accounting firms and some of the world’s largest institutional investors and governance organizations. It will oversee the development of an integrated model for reporting on strategy, risk, governance, financial performance and sustainability. Accordingly, the study group recommends that the CICA collaborate with other accounting bodies in the Global Accounting Alliance to spark global innovation on using the Internet in integrated corporate reporting. This is Part 4 of a multi-part series on the key messages contained in this new CICA research report (also refer to Part 1, Part 2 and Part 3).

Using the Internet in Corporate Reporting - A New CICA Research Report (Part 3)

The CICA research report, Using the Internet in Corporate Reporting: Practical Guidance for Effective Communications with Stakeholders, was prepared by a study group comprising current and former judges in the CICA’s Corporate Reporting Awards program. In its report, the study group concludes that corporate reporting will continue to evolve along with information technology, but that the fundamental stakeholder expectations of accountability and transparency will not change. It also concludes that every company needs an Internet-based communications strategy for achieving comprehensive and integrated corporate reporting. That strategy should reinforce accountability to stakeholders and ensure transparency by conveying key messages via the company website using Web 2.0 technologies (such as XBRL and data tools) and social media (such as Twitter and Facebook), as appropriate. Such an approach will help to strengthen collaboration with stakeholders and foster innovation. This is Part 3 of a multi-part series on the key messages contained in this new CICA research report (also refer to Part 1 and Part 2).

Using the Internet in Corporate Reporting - A New CICA Research Report (Part 2)

As previously noted, the Canadian Institute of Chartered Accountants (CICA) has released a discussion draft of the research report, Using the Internet in Corporate Reporting: Practical Guidance for Effective Communications with Stakeholders. As the title suggests, this report contains extensive practical guidance for effective communications with investors and other stakeholders. That guidance includes two case studies. PotashCorp was selected by the Study Group for a detailed analysis of the website design and information content of its 2009 Online Annual Report. BMO Financial Group was selected by the Study Group for a detailed analysis of the design and information content of the Investor Relations section of its website. Three separate guidance booklets have also been published ─ Practical Guidance for Managing Collaboration and Innovation, Practical Guidance for Managing Websites and Practical Guidance for Managing Web 2.0 and Social Media. This is Part 2 of a multi-part series on the key messages contained in this new CICA research report (also refer to Part 1).

Using the Internet in Corporate Reporting - A New CICA Research Report (Part 1)

The Canadian Institute of Chartered Accountants (CICA) has just released a discussion draft of the research report, Using the Internet in Corporate Reporting: Practical Guidance for Effective Communications with Stakeholders. This 256-page report was prepared by a volunteer study group of eight professionals with backgrounds in investor relations, public and private company reporting, financial analysis, public accounting, academe and information technology. In the Study Group’s view, the Internet is a vital communications medium for any business. Because of its global reach, mobile technology and immediate data transfer, more businesses and stakeholders are now connected to the Internet than ever before. Companies are moving from a document-based approach to a data-centric approach for communicating with investors and other stakeholders while, at the same time, building stakeholder relationships online. For every business, this means new opportunities and new risks. This is Part 1 of a multi-part series of postings on the key messages contained in this new CICA research report.

A Workshop on Integrated Reporting: Frameworks and Action Plan

On October 14-15, 2010, “A Workshop on Integrated Reporting: Frameworks and Action Plan” was held at the Harvard Business School. The workshop was sponsored by the Business & Environment Initiative. Robert G. Eccles was the workshop chairman. For two days, over 100 of the world’s leading authorities on corporate disclosure discussed the concept of integrated reporting, what its contribution could be to creating a more sustainable society, and what must be done to ensure its rapid and broad adoption in a high quality way. The workshop participants included people from a wide range of countries and representing virtually every group that has a stake in integrated reporting and can help to make it happen: companies, analysts and investors, NGOs, regulators and standard setters, accounting firms, technology and data vendors, academics, students and civil society. An Executive Summary of the workshop is available online, as well as a compilation of the workshop papers, The Landscape of Integrated Reporting: Reflections and Next Steps.

History of the CICA Corporate Reporting Awards

Next year, the CICA Corporate Reporting Awards (CRA) program will celebrate its 60th anniversary. The CRA began in the early 1950s. Originally, the awards were based on hardcopy annual reports (from 1951-1992). Today, the awards have expanded beyond the annual reports to include sustainable development (introduced in 1993), MD&A (introduced in 1995), corporate governance (introduced in 1996), scorecards (introduced in the late 1990s) and electronic financial reporting (introduced in 2001). Now, the major federal and provincial crown corporations are also included (introduced in 2007 and 2009, respectively). For a brief history of the Corporate Reporting Awards, refer to the March 2010 research paper “Corporate Reporting Awards and Financial Reporting Quality” by Tim Bauer and J. Efrim Boritz (pages 6-12 and Appendix B).

TELUS shines at CICA Corporate Reporting Awards 2010

TELUS Corporation captured top honours at the 2010 Corporate Reporting Awards presented in Toronto by the Chartered Accountants of Canada. It received four awards this year for its 2009 annual reporting package, including the Overall Award of Excellence in Corporate Reporting. Nexen Inc. and PotashCorp were also big winners this year, receiving multiple honours for industry and judging categories. Read the CICA Media Release for a list of winners and download the 2010 Judges Comment Booklet.

Integrated Reporting for a Sustainable Strategy

In light of the current economic and social climate, many companies are now publishing voluntary corporate social responsibility or sustainability reports that highlight environmental, social and governance issues pertaining to their business and industry. Such reports typically serve as a supplement to the company’s annual financial reports. While these organizations may have the right intentions, in most cases there is little linkage between the information published in these separate reports, which greatly limits either document’s overall value. (Read the article “Integrated Reporting for a Sustainable Strategy” in the March 2010 Financial Executive magazine.)

Executive CAs more optimistic about own company than Canadian economy

More than half of executive chartered accountants (56%) are optimistic about how their company will perform over the next 12 months despite their lack of optimism in the Canadian economy, according to the latest CICA/RBC Business Monitor (Q3 2010). Only 39% of executive CAs surveyed are optimistic about how the Canadian economy will perform over the next 12 months, a steep decline from the 57% who had a positive view in the second quarter of 2010. When compared with CICA/RBC Business Monitor results from a year ago, optimism about the national economy is down 7%, marking the first year-over-year decrease since the first quarter of 2009. (Read the CICA Media Release.)

Accounting profession to play key role in integrated reporting

The profession is to play a key role in helping companies report on both financial and non-financial results in the future. The conclusion came as the final session at the World Congress of Accountants discussed the profession's future over the next decade. Reporting that encompasses economic, social and environmental results will become "the norm", according to the International Federation of Accountants (IFAC) chief executive, Ian Ball. (Read the article at Accountancy Age online.)

NYSE issues report on core governance principles

The New York Stock Exchange's Commission on Corporate Governance has released a report that identified core governance principles it believed could be widely accepted and supported by issuers, investors, directors and other market participants. The Commission, formed in response to the financial crisis of 2008 and 2009, considered numerous issues, including the proper role and scope of a director's authority, management's responsibility for governance and the relationship between a shareholder's trading activities, voting decisions and governance.

Novo Nordisk - Awards and Recognitions

Awards and recognitions can be seen as an indicator of stakeholders' perception of a company based on its activities or the quality of its communications. Such accolades contribute to shaping the company's reputation in the public domain and among key opinion-formers and stakeholders. In 2009, Novo Nordisk received a number of honours and awards relating to its performance and its Triple Bottom Line approach to doing business. For examples of the corporate awards, visit the Novo Nordisk website and view the Novo Nordisk Annual Report 2009.

PwC - World Watch: Governance and Corporate Reporting

There is growing recognition of the importance of transparency and common business languages to communicate business information to investors and other stakeholders. This is particularly important in the current business environment. The PricewaterhouseCoopers (PwC) newsletter, World Watch, contains opinion articles, case studies and worldwide news on the many initiatives to improve corporate reporting. (Read the current issue of World Watch on the PwC website.)

Annual Report Trends and CSR Trends 2010

Two surveys of current practice have recently been published. AR Trends 2010 surveys Canadian and global annual reports (view the presentation). CSR Trends 2010 surveys Canadian and global corporate social responsibility (CSR) reports (view the presentation). The surveys are available at Craib Design and Communications online. (Craib videos are also available online.)

CICA Conference on Environmental, Social and Governance Issues

Environmental, social and related governance (ESG) issues are emerging as increasingly critical issues for the development of sustainable businesses in Canada and around the world. As a result, there are new risks, opportunities and strategies for which corporate leaders, senior management and business advisors must prepare. The Conference on Environmental, Social and Governance Issues will be held on December 6-7, 2010 at the Renaissance Toronto. It will focus on the most relevant and timely topics. Corporate leaders and experts will share their valuable insights and perspectives on what you need to know to respond to emerging expectations from investors, rating agencies, banks and other key stakeholders.

Canadian Securities Administrators (CSA) - Environmental Reporting Guidance

The Canadian Institute of Chartered Accountants (CICA) commends Canada’s securities regulators for publishing additional guidance to help reporting issuers meet existing environmental disclosure requirements. The aim of the Canadian Securities Administrators (CSA) Staff Notice 51-333 on Environmental Reporting Guidance is to assist issuers in assessing which information must be disclosed on environmental matters, such as risks related to weather patterns or environmental legislation. (Read the CICA Media Release.)

PwC - CSR TRENDS 2010

CSR Trends 2010 is the fourth comprehensive survey of corporate social responsibility reporting trends, benchmarks and best practices. This research was conducted jointly by PricewaterhouseCoopers’ Sustainable Business Solutions practice and Craib Design & Communications, a group of communications consultants with decades of experience in corporate and investor communications. This report is divided into five chapters: Focus; Credibility; Context; Performance; and Accessibility.

PwC - Corporate Reporting Framework

The insights gained from a global research program have been codified into PricewaterhouseCoopers (PwC) corporate reporting framework. The framework identifies four broad categories of information that all industries and companies share in common: market overview; strategy and structure; managing for value; and performance. All are underpinned by relevant performance measures. Each category encompasses specific elements that, according to the research, both companies and investors consider critical to assessing performance. (Learn more about the PwC Corporate Reporting Framework and download the Framework in Detail.)

CICA/IFRS Foundation Conference - IFRS in North America 2010

The CICA/IFRS Foundation Conference - IFRS in North America 2010 will be held on November 23-24, 2010 (optional sessions November 22) at the Metro Toronto Convention Centre in Toronto, Canada. As the deadline for IFRS adoption looms, this informative two-day event, with optional workshops, is crucial for anyone involved in financial reporting with an organization that is moving to IFRS. It is a unique opportunity to hear the latest IFRS developments directly from the International Accounting Standards Board (IASB), the Canadian Accounting Standards Board (AcSB) and the US Financial Accounting Standards Board (FASB). The most recent regulatory developments from Canada and the US will also be presented.

Chartered Accountants of Canada - Corporate Reporting Awards 2010

The Chartered Accountants of Canada - Corporate Reporting Awards showcase the best corporate reporting models in Canada, help Canadian companies improve their reporting and recognize leaders in the areas of financial reporting, electronic disclosure, corporate governance disclosure and sustainable development reporting. Attend the 2010 Corporate Reporting Awards luncheon and see examples of the best reporting models in Canada. The Awards will be presented on Thursday, November 25, 2010 from noon to 2 pm at the Metro Toronto Convention Centre South Building. Take your place among Canada’s business elite.

IFRS Readiness in Canada 2010

The Canadian Financial Executives Research Foundation (CFERF) has issued the third installment of its IFRS Readiness in Canada series. This study, IFRS Readiness in Canada 2010,  found that in their four-month race to convert to IFRS, small and medium-sized companies are not as far along in their conversions as large companies. One worrisome find was that nearly one in three companies with revenues of less than $49 million said they did not have the resources required to implement the conversion. As of the spring of 2010, only half of public companies were 60% of the way along the conversion project. The research study is sponsored by PricewaterhouseCoopers (PwC).

H&H Webranking: Does your website measure up?

Reviewing more than 730 European corporate websites and making more than 300 best practice examples available each year, H&H Webranking provides published and respected benchmarks for corporate communications on the Web. It reports on how to improve corporate websites. With the additional interest in social media and search, the shape of corporate communications is irresistibly evolving into a more complex phenomenon.

Annual Report on Annual Reports 2010

Corporate reporting is, more than ever, a delicate balance between current shareholders and potential investors, freedom of speech (not less) and compliance (mandatory), substance and style, stockholders and other stakeholders, content and appeal, thoroughness and brevity, information (overload) and communication (overuse), printed and electronic reporting tools, the talk and the walk. To learn more, read the Annual Report on Annual Reports 2010 by ReportWatch online.

IBM Global CFO Study 2010

The 2010 IBM Global CFO Study – involving more than 1,900 CFOs and senior Finance leaders worldwide – provides the largest window into the CFO mindset during the worst economic downturn in decades. Surprisingly, cost reduction was not at the top of their agenda. Instead, CFOs ranked "providing inputs into enterprise strategy" as most important. CFOs told us their role as strategic advisor is broader and more important than ever. More than 70 percent play a critical role in enterprise risk mitigation, business model innovation and selection of the key metrics linking performance to strategy execution. The pressure to help the business make all manner of decisions better, faster and with more certainty is intense. Read The New Value Integrator: Insights from the IBM Global Chief Financial Officer Study.

The top 10 risks for business 2010

In today’s business environment, conditions remain challenging for many, and risk retains its position high on every organization’s agenda. Businesses themselves are changing, which brings new risk horizons and, at the same time, they are grappling with the changes brought about by a post-downturn economy. The ability to anticipate threats, respond and continually adapt is as critical a part of the risk management process as it ever has been. The Ernst & Young Business Risk Report 2010 is part of an ongoing conversation about business risk — a conversation that has been taking place for several years, asking the question: How frequently are companies scanning their horizons and with what scope?

The Audit Committee Journey 2010

KPMG and the National Association of Corporate Directors (NACD) have released their 2010 public company audit committee survey. The purpose of the study, called The Audit Committee Journey, was to gain a perspective on audit committee issues from outside the boardroom. CEOs, chief internal auditors, controllers and others in management were surveyed. Their insights may help audit committees solidify their own views, enhance dialogue with management and shape future agendas. Risk management, uncertainty and financial statement issues are top concerns for audit committees in the year ahead. The developing issues of sustainability/corporate social responsibility, social media networks and IFRS may require more immediate consideration.

Carbon Management: Critical Issues For Strategic Finance

In September 2010, the Canadian Financial Executives Research Foundation (CFERF) issued a report on Carbon Management: Critical Issues For Strategic Finance. It covers a survey of senior finance executives from public and private companies and obtains insights through an executive research forum. The study revealed increased board participation in carbon management and reporting. The level of board involvement is reportedly higher in heavy-carbon emitting firms, where 25% reported that board involvement resulted in the development of a structured emissions management and reporting plan. The study also found that the statutory and regulatory actions taking shape in Canada have the potential to significantly impact the operations of Canadian organizations. In fact, 33% of heavy emitting companies surveyed said they expect the legislation to influence shareholders’ demands for improved carbon management and reporting. While the strategic impact of carbon use on the overall sustainability of organizations seems to be well established across the business community, 54% of public companies surveyed were not at all familiar with Ontario Securities Commission regulations that relate to carbon emissions.

Sustainability in Business Today

A recent study by Deloitte surveyed leading executives across five industry sectors: automotive, consumer products, process and industrial, technology and telecommunications. The objective was to paint a general picture of sustainability activity and to gather their views on several sustainability-related issues, including the way they define sustainability and their speculations on the future of sustainability in business. The vast majority reported that their sustainability priorities were at least partially aligned with their companies’ priorities. Two-thirds indicated that sustainability would have an impact on their overall business model. Read the June 2010 Deloitte study Sustainability in Business Today: A Cross-Industry View.

Internet Usage in New Zealand

New Zealand is also involved in the World Internet Project. AUT University, with support from the National Library of New Zealand and from InternetNZ, conducted its first survey in 2007, with the most recent data from 2009. The New Zealand World Internet Project 2010 surveyed more than 1200 people aged 12 years old and older about their Internet use. The survey found that most New Zealanders are increasingly using the Internet for activities such as social networking, buying and selling goods online, Internet banking, accessing information, learning and entertainment.

Internet Usage in Australia

The Australian component of the World Internet Project (WIP) is a collaborative project looking at the social, cultural, political and economic impact of the Internet and other communications technologies. The survey is carried out by the ARC Centre of Excellence for Creative Industries and Innovation at the Institute for Social Research, Swinburne University of Technology. Released in May 2010, CCi Digital Futures 2010: The Internet in Australia presents the findings from the 2009 Australian survey. The survey results show that the overwhelming majority of Australians are Internet users. In fact, 80% of Australians had used the Internet in the previous three months, up from 72% in 2007. By international standards, Australia’s level of Internet use is very high. In terms of home access, the vast majority of connections are now broadband (94%). Internet use still varies between different groups, although these differences have lessened since 2007.

Guidance on Using the Internet in Corporate Reporting

The Canadian Institute of Chartered Accountants (CICA) has released three new research booklets that promote effective communication. The booklets are based on the soon-to-be-published CICA Research Report Using the Internet in Corporate Reporting. The series includes Practical Guidance for Managing Collaboration and Innovation, Practical Guidance for Managing Websites and Practical Guidance for Managing Web 2.0 and Social Media. The views expressed in these publications are those of the Study Group members who are current or former judges in the ongoing CICA Corporate Reporting Awards program. Feedback and comments are welcome.

Oxford Internet Survey 2009

Oxford Internet Survey (OxIS) research is designed to offer detailed insights into the influence of the Internet on everyday life in Britain. Launched in 2003 by the Oxford Internet Institute, it is an authoritative source of information about Internet access, use and attitudes. The Internet in Britain 2009, describes aspects of the new, broadband, and more mobile, Internet and its Web 2.0 platforms. The survey shows how this evolving Internet is reconfiguring access to information, people and services in ways that are reshaping economic and social development. Some of the areas covered include: digital and social inclusion and exclusion; regulation and governance of the Internet; privacy, trust and risk concerns; social networking and entertainment; and online education.

Digital Future Project 2010

Internet users deal with an unprecedented level of online connections and communication beyond basic e-mail that did not exist a decade ago: social networking sites, online video, PDAs, texting, IM, e-readers, portable video devices, and most recently the iPad and competing devices to come. Through this technology, users must rely on the Internet more than ever before, yet at the same time this survey is identifying growing concern about reliability of the technology and user trust in it. Have we reached the point at which users are going into online overload? See the July 23, 2010 press release and highlights of the Digital Future Project 2010 at the Center for the Digital Future, USC’s Annenberg School for Communication & Journalism.

Environmental, Social and Governance (ESG) Issues in Institutional Investor Decision Making

The Canadian Institute of Chartered Accountants (CICA) has released a Discussion Brief titled “Environmental, Social and Governance (ESG) Issues in Institutional Investor Decision Making.” The brief discusses the findings of interviews with institutional investors and reviews current market and regulatory trends and existing regulatory requirements related to environmental, social and governance issues. It also presents options for improving the provision and use of ESG disclosure for investor decision making.

IBM Global CEO Study 2010

In May 2010, IBM published Capitalizing on Complexity. This study is the fourth edition of IBM's biennial Global CEO Study series. To better understand the challenges and goals of today's CEOs, IBM consultants met face-to-face with the largest-known sample of these executives. Between September 2009 and January 2010, IBM interviewed 1,541 CEOs, general managers and senior public sector leaders who represent different sizes of organizations in 60 countries and 33 industries. Access to the full study findings and case studies are available on the IBM website along with the related press release.

Business Redefined: Global Trends that are Changing the World of Business

In 2010 Ernst & Young published a report called Business redefined: a look at the global trends that are changing the world of business. It provides an in-depth look at the six most influential trends that will redefine business success, highlighting the key questions that business leaders should be asking themselves right now. The way that business leaders plan for — and respond to — these trends over the next decade will help determine who the market leading companies of tomorrow will be. The report highlights six key trends: 1. the rise of emerging markets; 2. increasing focus on resource efficiency and climate change; 3. the transformed financial landscape; 4. increased role of government in the private sector; 5. the next evolution of technology; 6. fostering a global workforce in dynamic times.

Social Networking Report 2010

According to a May 2010 survey called The Social Networking Report, the vast majority of business men and women (83%) believe that social networking is here to stay compared to only 9% who think it is just a ‘flash in the pan’ indulged by the under 30s. In addition, nearly three quarters (71%) say that blogging provides an effective new medium to communicate with a wider audience while less than one in five (16%) say that it is simply shouting into the ether. The survey into executive opinions on social media was published by The Counsel House, a firm specializing in interim management within corporate communications, and Pilotmax, a PR consultancy. The full report is available free-of-charge on The Counsel House website.

Carrots and Sticks – Promoting Transparency and Sustainability

KPMG recently published a report Carrots and Sticks – Promoting Transparency and Sustainability: An update on trends in Voluntary and Mandatory Approaches to Sustainability Reporting. The study covered 30 countries, including both developed and developing world economies. It revealed that a total of 142 country standards have been developed related to sustainability reporting. Of these reporting standards, 65% are mandatory and 35% are voluntary. In addition, 14 assurance standards have been developed for sustainability reporting.

About The Future of the Internet

What will the Web become? How big can the Internet get? What are we going to do with all of this information? See the fascinating documentary, “A Story about the Semantic Web,” (about 14 minutes long) created by Kate Ray, a recently-graduated journalism/psychology student at NYU. The video deals with Web 3.0 and includes interviews with Tim Berners-Lee, Clay Shirky, Chris Dixon, David Weinberger, Nova Spivack, Jason Shellen, Lee Feigenbaum, John Hebeler, Alon Halevy, David Karger and Abraham Bernstein.

Social Media Marketing Industry Report 2010

“How much time do my peers invest in social media marketing? What benefits are they achieving? Where will they focus their efforts in the future?” To understand how marketers are using social media, Social Media Examiner commissioned the April 2010 Social Media Marketing Industry Report: How Marketers Are Using Social Media to Grow Their Businesses. It set out to uncover the “who, what, where, when and why” of social media marketing with this report.

Snapshot: The IFRS® Taxonomy

XBRL (eXtensible Business Reporting Language) was developed in 1998 to provide a common, electronic format for business and financial reporting. It is intended to standardize financial reporting in order to promote transparency and to improve the quality and comparability of business information. The ongoing development of XBRL is coordinated by XBRL International, a not-for-profit consortium of approximately 550 companies, organizations and government agencies around the world. For public companies reporting under International Financial Reporting Standards (IFRS), the International Accounting Standards Board (IASB) and its oversight body, the International Accounting Standards Committee Foundation (to become the IFRS Foundation) publish tags for each IFRS disclosure. These tags are organized and contained within the IFRS Taxonomy. For more information, refer to the ongoing project on the IFRS Foundation website and the June 2010 document “Snapshot: The IFRS® Taxonomy.”

IASB - Library of Snapshot documents

Snapshot documents are published by the International Accounting Standards Board (IASB) and IFRS Foundation to accompany due process documents. They  provide a high level summary of proposals and are available to download free of charge from the IFRS Foundation website. The following projects are covered: Derecognition; Fair Value Measurement; Financial Statement Presentation; IFRS 9: Financial Instruments (replacement of IAS 39); Insurance Contracts; Leases; Liabilities; Post-employment Benefits (including pensions); Rate-regulated Activities; Revenue Recognition; and XBRL (eXtensible Business Reporting Language).

Netwatch - The Medium is the message

Social networks are booming. It took radio 38 years to hit 50 million users. Television took 13 years, the Internet four years and the iPod three years. In that context, more than 150 million people engage with Facebook on external websites every month and Twitter reports some 50 million tweets are sent a day. The statistics on Facebook, YouTube and Twitter are mind-boggling. The bottom line is that companies must think about how to communicate with their stakeholders in new and different ways. Read the article "Netwatch - The Medium is the message" by Jim Carroll in the September 2010 issue of CAmagazine online.

The top 10 tech issues for 2010

Annually, the Information Technology Advisory Committee (ITAC) of the Canadian Institute of Chartered Accountants (CICA)  consults with the profession to learn what its greatest concerns are. In performing an analysis of the top 10 technology issues, newer technologies and their impact on business were considered and were addressed within the context of the more established issues. This year, the top ranked issue was compliance requirements. This is followed by the impact of the recession, information management, public trust and emerging technologies (such as cloud computing, social networks and personal technology). Other top 10 issues include collaborative-extended enterprises, infrastructure, IT governance, IT resources and skills, and knowledge management. Learn more by reading the online article "The top 10 tech issues" in the September 2010 issue of CAmagazine.

Netwatch - Location is the new intelligence

The location intelligence industry is growing as a result of the rapid dominance of location-aware mobile devices, the rapid emergence of massive sources of spatial data (geographic-oriented information, i.e., Google Maps), the rapid user adoption of location-based applications (i.e., iPhone Apps) and a significant amount of innovative thinking as to how to capitalize on these very fast-paced trends. All this is leading to significant business-model innovations. Read the article "Netwatch - Location is the new intelligence" by Jim Carroll in the August 2010 issue of CAmagazine online.

Stakeholders and IFRS

With International Financial Reporting Standards (IFRS), financial results should be more transparent to analysts, investors and regulators. But, have Canadian companies done their part to make sure their external stakeholders can make sense of IFRS? Read the article "Stakeholders and IFRS" in the August 2010 issue of CAmagazine online.

Integrated Reporting - Step 3: Collaboration and Innovation

The Internet offers an excellent medium for companies to enhance their strategic communications and collaboration with investors and other stakeholders, as well as for sparking innovation. In fact, innovation is often inspired by unexpected voices that bring a fresh perspective to solving a particular need. Web 2.0 technologies and social media tools encourage an intimate dialogue with people both inside and outside a company’s normal circle of colleagues and customers. They can foster teamwork, thereby enhancing productivity. In addition, businesses can seek input from people in other industries and with different perspectives who may approach the challenges in a completely different way. The Canadian Institute of Chartered Accountants (CICA) is undertaking research to promote effective communication by providing helpful guidance for "Using the Internet in Corporate Reporting." The booklet "Practical Guidance for Managing Collaboration and Innovation" is available as a discussion draft on the CICA website.

Integrated Reporting - Website Data Tool

A company website data tool is a standalone feature designed to compile, isolate, export and display publicly-available data spread out through multiple disclosure sources according to users’ preferences. It is based on data that a company determines will be valuable to users. A data tool allows users to create and store customized data lists, tables and charts, but should not permit them to overlay multiple, disparate data points for comparison. For an example, refer to the PotashCorp DataTool (illustrated) and view the explanatory DataTool Demo Video.

Integrated Reporting - Website Data Packaging

To respond to stakeholder information needs, a company website should be viewed holistically as a data mart. The data is organized largely according to packages that have evolved over a long period of time within the paper paradigm, such as annual reports, financial statements and management discussion and analysis. It is now time to rethink the communication of the data and question whether the traditional data packaging best serves the information needs of users. It is also important to think about how the data can be repackaged to make them more useful to investors and other stakeholders. In this way, users can get at the package or report and quickly find the information they need. Specific data items are pre-selected by the company and the package or report is then posted on the website. A webpage could also be considered as a package of data items. For example, refer to the "Investor Briefcase" package on the PotashCorp website.

Integrated Reporting - Website Data Categories

Technology, particularly the Internet, has altered the way information is presented and communicated. Traders, institutions, analysts, agencies, governments and regulators alike all use the data available online as they go about their daily business. In response, companies are shifting from a document-based business culture to one that is based on access to data. Website data categories may include, for example: About, News, Investors, Customers, Sustainability, Governance and Careers. These categories offer a compromise for the dissemination of general purpose information and the delivery of data to meet the specific needs of stakeholder groups, such as investors and customers. For an example of these data categories, as either a first-level or second-level menu category, refer to the PotashCorp website.