A good annual report can help build trust

TRUST is the lubricant that keeps transactions flowing smoothly. It is either given on faith or earned with information. Companies release relevant information to the public over the course of the year through various channels. However, few vehicles have the prominence and persistence as the annual report. A company's annual report is a chance for it to not just show how it did, but also to show what it is.

The Best Annual Report Awards (Bara) is presented under the umbrella of the Singapore Corporate Awards, jointly organised by the Institute of Singapore Chartered Accountants, the Singapore Institute of Directors and The Business Times. They are awarded to recognise excellence in companies which engage with their stakeholders by disclosing useful and relevant information through their annual reports.

With increasingly complex business environments and greater awareness of the social responsibilities of companies, the information needs of corporate stakeholders have grown in both volume and complexity. Regulatory bodies provide only the minimum disclosure requirements that are relevant to a wide audience. Beyond this minimum requirement, it remains the discretion of each company when crafting its annual report how much of its private information to make public and how much of that to be disclosed in the very limited real estate of an annual report.