How ARC Resources simplified and streamlined its financial disclosures
ARC Resources was recently crowned joint winner of the best financial reporting category at the IR Magazine Awards – Canada 2018, sharing the prize with Intact Financial. This mini-profile, taken from the Award-Winning IR – Canada 2018 report, outlines why ARC Resources stood out to the judges.
ARC Resources is committed to continuously enhancing its financial disclosures to make sure they are transparent, clear, complete and relevant. A serial IR Magazine award winner in this category, ARC’s IR team knows this doesn’t necessarily mean always adding more disclosures, but rather thinking about how to streamline and simplify existing disclosures.
The IR team has added visual aids, including charts, to complement discussions around key financial and operating metrics in the MD&A. It has also added historical data and trend analysis to tell a story of how the company’s performance has evolved.
The judges particularly praised ARC Resources’ use of a scorecard in its annual report, which links to the company’s long-term and short-term strategy. They felt the report was very user-friendly and covered a broad range of topics, including employee engagement and risk management. The company also takes an integrated approach to reporting, ensuring its annual report and proxy statement are complementary filings.
ARC Resources’ team proactively assesses future accounting policy changes and disclosure requirements, and is a leader in instilling a very high standard for transparency in its financial reporting, ensuring the company’s disclosures are accurate, complete, reliable, timely and understandable, and that they faithfully represent the financial health of the organization.
Click here to find out more about the Award-Winning IR – Canada 2018 report, to find out why the winners were selected.