A company’s annual report aims to provide stakeholders (shareholders, employees, suppliers, customers, etc.) with an understanding of the company’s mission, its objectives and achievements. Fidugius’ solution supports companies in publishing an annual report that is reliable and available in time.
The annual report
The annual report covers many areas, including:
Note that the specific content and structure of an annual report can vary depending on the company, its industry and the regulatory requirements.
The annual report: a perfect opportunity
The annual report is a perfect opportunity for a company to highlight its accomplishments and the impact of those accomplishments. Stakeholders want to know why the company has achieved its objectives expressed in last year’s annual report or, more importantly, why it has not. What measures were taken to realise the objectives and when? How has the company adapted to new market conditions and what are the implications for the future? By connecting a company’s activities and achievements to its mission statement, a company can build trust and foster long-lasting relationships with its stakeholders.
It is apparent that the annual report is a recurring task and can be a major challenge to compile every year. The process begins with the early engagement of all parties responsible for providing content. The process for preparing the annual report is outlined below.
Fast and reliable reporting on financial and ESG results has never been easier
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Guidelines, Procedures, Definitions and Instructions?
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The Fidugius Accounting & Reporting Manual
Collecting all the necessary information requires preparation. Those who contribute to the content of the annual report must ensure that the data is available, accurate and consistent with sections prepared by other contributors. Multiple rounds of corrections are usually required to achieve a stable document that best reflects the company’s position and perspective.
However, this is not a one-time recurring event. Having reliable data to disclose all starts with the timely and accurate registration of every transaction throughout your organisation.
The Fidugius solution and your annual report
With the Accounting & Reporting Manual of Fidugius you are ensured of:
The Fidugius Accounting & Reporting Manual provides assurance of accurate data when preparing your annual report.
The company’s auditor used to issue their opinion (assurance) on the financial statements. Recently, auditors have also been required to issue an opinion on the ESG statements of a company. This requirement initially only applies to listed companies, but in the coming years all companies will be required to publish ESG statements and auditors will have to issue an opinion on these statements as well.
Adoption of the Annual Report
The executive board authorises the annual report for issue. At the Annual General Meeting (AGM) of shareholders, the financial and ESG statements within the annual report are adopted.
Want to know more about the Fidugius Accounting & Reporting Manual?
The Fidugius Accounting & Reporting Manual helps companies to ensure that their company’s annual report is reliable. Employees responsible for financial accounting and reporting and ESG are informed of the company’s policies, procedures, definitions, kpi’s and understand how to maintain accurate records by following the accounting treatments.
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