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Business Reporting Leaders Forum KPMG Sydney Wednesday 4 October and KPMG Melbourne on Friday 6 October 2017 New Website:
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Attendees (Sydney) – a broad cross-section of the reporting supply chain in Australia
Chief Financial Officers/ Finance Directors / Chief Executive Officers Accounting / Legal Firms Investor Relations Officers & Sustainability Officers Investors & Analysts Other Stakeholders Simone Schlitter – CBA Selina Heng – Sydney Airport Michelle Taylor – Challenger Sean O’Sullivan - Brambles David Huxtable – CBA Alex Ruban – CBA Kristi Bromley – CBA Serena Blanch – CBA Elyce Pobiega – Woolworths Jessica Luca – Woolworths Paul Van Meurs – Woolworths Adam Kirkman– AMP Capital Paula Walsh – Macquarie Georgia Cable - Macquarie Michael Coleman – AICD Robin Low Kylie Dumble – KPMG Winson Chan – KPMG Nicky Landsbergen – EY Nasim Payandeh Castillo – EY Paul Dobson – Deloitte Ryan Burns - PWC Louise Coughlan – Westpac Alan Dayeh – Westpac Richard Clifton-Smith –AGL Lachlan Feggens – Brambles Siobhan Spoljaric – NRMA Pauline Vamos – Regnan Pablo Berrutti – Colonial First State Diana D’Ambra - ASA Victoria Whitaker – St James Ethics Centre Andrea Spencer-Cooke – One Stone Advisors Academia BRLF/ IIRC Accounting Bodies Regulators / Exchanges / Standard Setters/ Government Keith Reilly – Macquarie Henri Hussinki – Finland Suresh Cuganesan – University of Sydney Richard Howitt (CEO IIRC) Nick Ridehalgh - KPMG/BRLF Michael Bray – KPMG/ Deakin John Stanhope - BRLF (Chairman) Liz Prescott - IIRC Stephen Harrison - Global Accounting Alliance Olywyn Connolly – CAANZ Karen McWilliams –CAANZ Douglas Niven – ASIC Kate Phipps – Treasury Slide 2
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Attendees (Melbourne) – a broad cross-section of the reporting supply chain in Australia
Chief Financial Officers/ Finance Directors / Chief Executive Officers Accounting / Legal Firms Investor Relations Officers & Sustainability Officers Investors & Analysts Other Stakeholders Tom Berry – ANZ Carolina Battaglini – ANZ Simon Cammell – Auspost Rod Masson – Cbus Kylie Molinaro - Cbus Emma Sweet – CPA Aus Paul Urquhart – Auspost Michael Dundon – Vicsuper Sarah Burley – Australian Super Louise O’Brien – Bank Aust Nigel Davis – Medibank Juliet Williams – Medibank Michael Parks – Telstra Stephanie Spilsbury – Telstra Peter Matthey – Cabrini Health Australia Merran Kelsall – Director Jane Tongs - Director Helen Adair - EY Terence Jeyaretnam – EY Meg Fricke – EY Siva Sivanantham – Grant Thornton Simon Dubois – KPMG Penny Stragalinos – KPMG Jen Travers – KPMG Simon Bray – HMH Rachel Scully - IOOF Joel Posters – Future Fund Louise Davidson – ACSI Connie Howe – ACSI Holly Lindsay – ACSI Harry Moore – Colonial First State Sharyn Cowley – Telstra Super Anita Fox – HESTA Sarah Goodwin – AIST Jake Sims – AIST Ian Lorimer – Unisuper Lewis Tassone – Hostplus William Wong – Hostplus Zoe Heath – First State Super Lyn Goodear – Australian Human Resources Institute Paul Begley – Australian Human Resources Institute Jackie Allender – ACCSR Stephanie Sterck – ACCSR Leeora Black – ACCSR Vanessa Richards – BHP Marlene Misquita – BHP Colin Neathercoat – Melbourne Water Gywneth Elsum – Melbourne Water Pet Academia BRLF/ IIRC Accounting Bodies Regulators / Exchanges / Standard Setters/ Government Barry Cooper – Deakin Joanne Locke – Deakin Peter Carey - Deakin Luckmika Perera – Deakin Christine Contessotto – Deakin Shalini Samuel – Monash Wendy Stubbs – Monash Richard Howitt – CEO IIRC Nick Ridehalgh - KPMG/BRLF Michael Bray - KPMG John Stanhope - BRLF (Chairman) Liz Prescott - IIRC Kris Peach - AASB Matthew Zappulla – AASB Roger Simnett – AASB Claire Grayston – CPA Aus Rob Thomason – CPA Aus Jo Cain – Materiality Counts Charles Macek – IFRS Advisory Council Bill Edge – FRC Slide 3
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Agenda Time Syd Melb Subject Presenter 4.00 10.30
Welcome and introduction to Richard Howitt Nick Ridehalgh/ John Stanhope 4.05 10.35 Keynote Address – Developments in Integrated Reporting Richard Howitt, CEO IIRC 4.45 11.15 Q&A Facilitated by Nick Ridehalgh (S) Workshop chaired by Louise Davidson (M) 5.25 11.55 Wrap up 5.30 12.00 Close Slide 4
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Integrated Reporting Richard Howitt October 2017
International Integrated Reporting Council
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Global Momentum International Integrated Reporting Council
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2,000 participating in <IR> Networks worldwide
Over 50% of CEOs, CFOs and COOs are moving towards <IR> Over 1,500 organizations in 62 countries adopting <IR> And over 35% say they will 2,000 participating in <IR> Networks worldwide <IR> adopted by businesses in all G20 economies Over 1,600 organisations are now doing some form of Integrated Reporting. Nearly 50% of CEOs, CFOs and COOs say they are moving towards <IR>, with a further 35% saying they will adopt <IR> in the next two to three years. This is according to a recent survey of 500 leaders by CIMA, AICPA and Black Sun. 2,000 participating in <IR> Networks worldwide 320 businesses in Japan predicted to release integrated reports in 2017 in Japan according to Japanese government sources.
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Corporate governance and stewardship codes driving <IR> adoption
South Africa Malaysia The Netherlands Japan The Philippines The UK With government and regulatory support from China, India, Brazil, EU International Integrated Reporting Council
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Evidence Base International Integrated Reporting Council
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Of SA Non-Executive Directors believe
integrated thinking increases the quality of organisations’ dialogue with shareholders other stakeholders Of participants see increased understanding of value creation 79% 92% 87% 80% <IR> participants believe investors better understood their strategy 79% of non-executive directors surveyed in South Africa by SAICA believe integrated thinking has increased the quality of organisations’ dialogue with providers of financial capital and other stakeholders 92% of respondents to a Black Sun survey see increased understanding of value creation as a current benefit According to 80% of investors in a global survey conducted by PwC, investment professionals' perception of management quality is affected by the quality of a company's reporting. And nearly two-thirds of investment professionals said that the quality of a company's reporting could have a direct financial impact on its cost of capital. - 87% of IIRC Pilot Programme participants that publish an integrated report believe investors better understood their strategy. Of investors believe quality of reporting affect professional perception of management quality
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Companies doing <IR> outperform others National University of Singapore and KPMG
Higher market valuation Nanyang University Positively associated with both stock liquidity and firm value Stanford University A more dedicated investor profile Harvard Business School Better understanding of strategy by investors Black Sun 70% of investors see integrated reports as essential or important EY
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Resources Integrated Reporting Examples Database
Sharing real examples of leading practice in Integrated Reporting to help organisations on the <IR> journey The International <IR> Framework Providing the principles and concepts for organisations adopting <IR> <IR> Network Bringing together organisations worldwide to enhance the way they think, plan and report. examples.integratedreporting.org
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PROGRESS THROUGH
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Q&A Nick Ridehalgh facilitate questions in Sydney
Louise Davidson (ACSI CEO) to chair a panel to answer Q&A Slide 14
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BRLF wrap up Nick Ridehalgh/ John Stanhope Slide 15
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