South African companies lead the way in corporate reporting
A global revolution in corporate reporting is underway, with South Africa at the forefront.
In February 2010, the JSE Listings Requirements made it compulsory for all listed companies to comply with the King Report on Governance for South Africa 2009 (King III). This included the requirement for companies whose financial year starts on or after 1 March 2010 to produce an integrated report, making South Africa one of the first countries in the world to adopt integrated reporting.
With a financial year ending 31 March, Vodacom is one of the first companies to replace the traditional annual report and sustainability report with an integrated report. Vodacom's integrated report is currently being distributed to shareholders and an electronic version can be viewed on our website at http://www.vodacom.com/
King III stresses the fact that company strategy, risk, performance and sustainability are inseparable. Echoing this sentiment and highlighting the change process underway at Vodacom, Chairman Peter Moyo said that the report "is the end result of a fundamental shift in Vodacom's strategic process. Stakeholder concerns and sustainability issues now inform and guide management's decisions and actions, rather than being seen as somehow separate to doing business and delivering returns to shareholders."
Bridging the gap between paper and the digital world, the report makes good use of mobile technology. Barcode links are provided to allow people with smartphones to quickly and easily access online content such as video links, case studies and feedback forms. The company will also be updating the electronic version of the report throughout the year.
Also unique to the report is an iPad App which is available for free download in the Apple iStore. All iPad users need to do is search for Vodacom report library in the App Store.
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