With a 'better not more' perspective on the new NZX code, reporting could be dramatically enhanced.
Regulatory change will always dramatically change the business landscape however the new NZX Corporate Governance Code would be used as the ideal catalyst for better business reporting in New Zealand.
The new Corporate Governance Code was released in May 2017 with the intention of promoting enhanced governance by recognising the role of boards in protecting shareholder interests and creating long term value. The new code signals a shift towards alignment with international reporting standards such as through the recommendations of reporting in accordance with an internationally recognised framework such as the Global Reporting Initiative (GRI) or Integrated reporting <IR>.
For issuers, disclosure decisions will be driven by a trade off between short term compliance with the new code and a longer term view of stakeholder engagement objectives.
© 2018 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.