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CRD position paper on transparency and accountability

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03 Jul 2019

The Corporate Reporting Dialogue (CRD), which brings together organisations that have significant international influence on the corporate reporting landscape, has published a position paper noting that he world’s leading financial and non-financial corporate reporting frameworks have the same common foundations, based on the key objectives of transparency and accountability.

The position paper sets out the seven key principles report preparers should follow for achieving such transparency and accountability: materiality, completeness, accuracy, balance, clarity, comparability and reliability. It notes that these common principles are a reminder that the CRD participants have similar expectations from companies in preparing and disclosing information but also states that transparency needs accountability in order to drive effective behaviour or performance: disclosing in itself is not enough if those holding to account do not have the power to influence the behaviour or performance.

The position paper follows an earlier paper on SDGs and the future of corporate reporting and a consultation better alignment through an online survey and a series of global roundtables held in Australia, Colombia, France, Germany, Italy, Japan, Malaysia, Poland, South Africa, US and UK from March until June 2019.

Please click for the following additional information on the CRD website:

 

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