Release of Confidence in Corporate Reporting Survey 2005

CPA Australia has released its fourth annual Confidence in Corporate Reporting Survey which captures public and shareholder views on companies’ social and environmental practices and reporting, along with the views of 150 analysts, advisers and stockbrokers, 200 Company directors, CEOs and CFOs and 50 auditors.

The survey confirmed the importance of social and environmental reporting to company accountability, but it also reveals a significant level of public and shareholder scepticism – 60 per cent believe social and environmental reporting is a public relations exercise and nearly two thirds do not believe Australia company directors have adequate regard for the interest of all stakeholders.

There is also strong support for mandatory reporting and for the audit of companies' social and environmental reporting.

The disconnect between the efforts of business and the perceptions of the Australian public and shareholders points to a significant challenge for corporate Australia and the accounting profession.

The survey also found strong levels of public and shareholder willingness to accept a lower investment return and pay from a company with an excellent social and environmental reputation.

CPA Australia undertakes the survey each year to capture a snapshot of issues impacting public confidence in corporate reporting, this is the first year the survey has considered aspects of social and environmental reporting.

The survey will further inform CPA Australia's key projects as well as our response to the Parliamentary Joint Committee on Corporations and Financial Services as well as the Corporations and Markets Advisory Committee's inquiries on corporate social responsibility and triple bottom line reporting.

Further information

To find out more about Confidence in Corporate Reporting 2005, view the following media releases:

• CSR is PR - mandatory reporting needed say Australian public and shareholders
• Shareholders see benefits in equality with stakeholders
• Australians willing to trade dollars for company’s social and environmental reputation

Or, download the Confidence in Corporate Reporting Survey detailed findings.

For more details about CPA Australia's other sustainability activities:

• Download CPA Australia's report, Sustainability Reporting - Practices, Performance and Potential
• View the media release 'University of Sydney and CPA Australia to define future framework for sustainability reporting'
• View CPA Australia's submission to the Parliamentary Joint Committee on Corporations and Financial Services on the inquiry into corporate responsibility

This page is available online at:
http://www.cpaaustralia.com.au/cps/rde/xchg/cpa/hs.xsl/archive/2372_16850_ENA_HTML.htm