The future of corporate reporting – the way in which organisations report their performance and activities to investors, and the wider public, was explored at a high-level roundtable discussion between MCB Bank Limited and ACCA (the Association of Chartered Certified Accountants).
The event took place on Monday which was attended by senior management of MCB, ACCA and ACCA members working at the bank. Senior management of MCB included Ali Munir, GH Strategic Planning & Investment, Ramzan, Group Head Treasury, Mubashar Bashir, Head of Corporate Communication & Marketing, Kamran Rasool, Group Head – CSR & Security. Senior management of ACCA included Jenny Gu, Member of ACCA’s Global Council, Rehan Uddin, Head of ACCA Karachi and Muhammad Shahid Khan, Business Development Manager along with others.
Jenny Gu made a presentation on the theme of ‘Corporate Reporting’. She highlighted ACCA’s research ‘Understanding investors research series’ which explores the way corporate perspectives are changing and investors are becoming more sophisticated in using a wider range of corporate information than ever. As a result, businesses need to understand their investor audience and respond accordingly. Integrated reporting is going to be the form of reporting increasingly taken up by progressive companies around the world.
She said: “The aim of integrated reporting is to provide a more consistent, holistic picture of how companies create value by bringing together these different strands of reporting. It also aims to address current shortcomings with traditional corporate reporting, which tends to see tangible assets as the main source of market value when, today, they typically represent only a relatively small proportion.”
Mubashar Bashir and senior management of MCB Bank Limited appreciated the event saying, “such events are a great platform for institutions to interact with global accountancy bodies and such initiatives should be encouraged and continued.” Speaking on the occasion, he said: “MCB Bank understands the urgency to elevate corporate report mechanism towards integrated reporting as in today’s time and age, it is necessary to present information in a more cleansed manner.”
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