Smart data could be key to help restore trust in corporate reporting: EY

Singapore

SMART data could be the key to fully restoring public trust in corporate reporting and improving corporate decision-making, a new study suggests. But businesses, including the world's largest organisations, are currently not making full use of the vast amounts of financial and non-financial information they collect to tell the right story the right way.

EY Financial Accounting and Advisory Services' annual global report, "How can the digital transformation of reporting build the bridge between trust and long-term value?", surveyed over 1,000 chief financial officers (CFOs) of large organisations across 25 countries, including Singapore.

Only 58 per cent of the finance leaders surveyed said that businesses are highly trusted by the public. Yet many were not fully exploiting the information…