Meeting Best Practice Guidelines in Corporate Reporting

Our webinar, Meeting Best Practice Guidelines in Corporate Reporting, covered legal and best practice reporting requirements, with an emphasis on aligning these practices with corporate purpose, culture, and diversity, equity, and inclusion (DEI). The session aimed to help attendees think strategically about their reporting structure, encouraging them to build narratives that reflect both compliance and meaningful engagement with organisational values. 

That means: 

Strategic Reporting 

Reports should be viewed not just as a compliance document, but as a narrative that tells the story of how a company is living out its purpose. Reporting is an opportunity to communicate how the organisation is delivering on its strategy and managing risks. This means avoiding ‘boilerplate’ statements.  

Instead, aim to craft clear, company-specific disclosures that align with your stakeholder’s information needs and with your operations. Authenticity, transparency, and clarity are key; narrative disclosures should be clearly linked to quantifiable performance and risk management. 

Reporting and compliance can have tangible benefits for business, whether that is through landing tenders, retaining talent, or good risk management. 

Embedding Culture and DEI 

Despite recent pushback from the US, culture and DEI still play a critical role in effective reporting. Both the 2024 UK Governance Code and the 2023 QCA update put a stronger emphasis on culture. It’s no longer sufficient to mention these topics superficially—companies are increasingly expected to demonstrate how culture and DEI are embedded in their operations, decision-making, and long-term planning. Meaningful metrics and examples can help avoid superficiality and to show genuine commitment and progress in these areas. 

Staying Proactive 

Recent legal and regulatory developments have caused significant uncertainty. The trajectory of the US remains unclear, and the EU Omnibus process has also been far from clear. We know, for example, that countries including Spain, Sweden, Portugal, Finland and Czechia backing return to the risk-based approach. At the same time, Germany has pulled back, with Merz calling for a complete elimination of the CS3D. 

It is equally clear that these proposals are not popular; significant business and trade groups, investors, the UN, and others have made calls for a return to a common-sense risk-based approach to requirements.  

The current Omnibus proposal would have businesses move to a reactive model. It goes without saying that this would be far more inefficient, more resource intensive, and higher risk in the long run. 

Companies should, instead, stay proactive. Review regulatory changes and integrate them into your governance and reporting frameworks, but also remain aware of the data and information needs of key stakeholders. Going beyond compliance is, as ever, the best strategy. 

Reporting is an evolving practice, one that should reflect the realities of a business while meeting legal and ethical standards. Reporting is not only about accountability but also about reputation, stakeholder engagement, and long-term value creation. 

In summary: 

• Treat the report as a communication tool, not just a legal formality. 
• Link forward-looking statements with past performance. 
• Use case studies and data to illustrate key themes. 
• Integrate non-financial information (like DEI efforts) with financial performance for a holistic view. 
• Consider the audience—investors, regulators, and employees—and tailor the report to their interests and concerns.