22 September 2023
The Absa Group Integrated Report 2022 was recognised in the Top 10 Integrated Reports among the JSE Top 100 listed companies in the EY Excellence in Integrated Report Awards this month.
‘Excellent’ reports have a clear strategic focus, an emphasis on value creation and a high level of connectivity between the various elements presented, and consequently a coherent value creation narrative, according to EY.
“Absa’s report focusses on value creation and contains an appropriate mix of forward-looking information and performance disclosures. The explanation of the basis of preparation and presentation of the report is suitably detailed and supported by an explanation of the extent to which the report has been assured. A wealth of useful, well contextualised, and clearly explained data is provided within the report and the extensive use of cross referencing makes the report easy to navigate. We particularly liked the context provided by the comparison of the group’s position relative to its most significant peers in each country within which it operates. The materiality determination process is comprehensively explained, and the material matters are unpacked and linked to risks, opportunities, strategy, stakeholders, and their impact upon the business model. The section that deals specifically with the outlook for the group is excellent,” according to EY.
The accolade recognises Absa’s continuous efforts in striving to outperform on investor communications.
Absa’s efforts in this regard have further been acknowledged by the International Finance Corporation (IFC) through its selection of certain of Absa’s integrated reporting disclosures (2022 and 2021) to feature on its Disclosure and Transparency Platform (a platform for international best practice disclosures). www.ifcbeyondthebalancesheet.org
An integrated report is a concise communication about how an organisation’s strategy, governance, performance and prospects, in the context of its external environment, lead to the creation of value over the short, medium and long term, according to the IFRS Foundation, a public interest organisation established to develop high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards.
In March, Absa investor relations was voted top among all listed South African companies in the 2023 Intellidex Top Investor Relations survey. The accolade recognises Absa as the leader in investor relations. It was the tenth consecutive rating where Absa was voted first in South Africa for investor relations across all companies, after being first for eight consecutive years in the global Extel ratings from 2012 to 2019 until that survey stopped.