ANN CROTTY: Not-so-good stuff cleverly hidden in corporate reports
Glossy integrated annual reports often say too little
The Chartered Secretaries Southern Africa, in partnership with the JSE, gives an annual reward for excellence in corporate reporting. There are categories for all sizes of JSE-listed companies as well as for unlisted ones, NGOs, the public sector and large and small state-owned enterprises. This year it was decided not to make an award for the large state-owned companies. No reason was given, but considering the only time we’ve heard about these companies this year has generally been in the context of the leaked Gupta e-mails or equally heart-stopping tales of corruption, it shouldn’t have been a surprise. Still, the reward is not for ethics or good governance, but for excellence in reporting. Presumably having an appalling ethical reputation doesn’t automatically disqualify you, though perhaps it should. Eskom, which has received many awards in the past for its excellent reporting, apparently didn’t even submit an entry this year. The more likely reason for not making an award is n...
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