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EY announces results of Excellence in Integrated Reporting Awards 2021; Redefine Properties ranks top


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EY announces results of Excellence in Integrated Reporting Awards 2021; Redefine Properties ranks top

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10th September 2021


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The awards are designed to benchmark standards of excellence in the quality of integrated reporting to investors and other stakeholders of listed South African companies. 

The top 100 JSE-listed companies, based on market capitalisation as at 31 December 2020, were included for consideration. Pure holding companies were excluded. 


Stephen Ntsoane, EY Africa Assurance Leader said; “This is the tenth year that we have announced the Excellence in Integrated Reporting survey and awards. 

“As we reflect on this important milestone, we believe that in times of such economic uncertainty it is more important than ever to encourage companies to report in a transparent and balanced way. EY is committed to continue the quest for excellence in integrated reporting.” 


Top rankings  

Redefine Properties Ltd achieved top ranking in the 2021 awards, up from third place last year.

Nedbank Group Ltd ranked second, after achieving first place for the past three years. 

Kumba Iron Ore ranked third, slipping slightly from second in 2020. 

“Redefine’s report is attractive, well laid out and easy to read,” Ntsoane said.

"The strategic overview and the disclosure of five additional areas of capital that should be included in integrated reports - namely (1) human, (2) intellectual, (3) social, (4) natural and (5) relationship capital - as per the International Integrated Reporting Framework to explain the group’s value creation story are examples of excellent disclosures that demonstrate integrated thinking.” 

Ntsoane added that the pandemic has resulted in an incredibly changed business environment but it has created an opportunity to revisit and reimagine business strategies. 

“But a growth strategy in the post-pandemic era cannot be built on the same assumptions and principles that drove results in the pre-pandemic era. Businesses should use this opportunity to revisit their strategies, to create sustainable and long-term value.” 

The top 3 ranked companies were also recognised with ‘Honours’. 

Honours are awarded to those high-quality integrated reports which the adjudicators believe have come closest to complying with the requirements of the International Integrated Reporting Framework. 

Ntsoane congratulated all the businesses who were ranked in the Top 10 for their outstanding reports. 

The full top 10 rankings in order are:

  • Redefine Properties 
  • Nedbank Group 
  • Kumba Iron Ore 
  • Anglo American Platinum 
  • Vodacom Group 
  • Netcare 
  • Truworths International  
  • Absa Group  
  • Oceana Group 
  • Standard Bank Group 

The most positive reporting trends this year are, governance disclosures integrated within the value creation narrative, the linking of remuneration disclosure to the strategic progress of business as well as increased recognition of the United Nations Sustainability Development goals.

“There are however several areas that could be improved,” noted Larissa Clark EY Africa’s IFRS (International Financial Reporting Standards) Desk Leader.  

She cited the lack of distinction between short, medium and long-term strategies as well as insufficient linkage between key performance indicators to the explanations of how the business is being managed. Insufficient explanation of the value the business wishes to create for itself and others was another concern. 

Submitted by Ernst & Young


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