How Prepared Are You for Operating and Financial Reviews?
Now that the Accounting Standards Board has published its Reporting Standard for Operating and Financial Reviews (OFRs), quoted companies are obliged by law to report on a wider range of issues than has previously been required.

Getting ready:
Experience of researching, writing and producing an OFR for a major FTSE 250 company has allowed us to identify the following implications.

Before writing - you need time to:

identify the additional information required and gather it

review and revise objectives, strategies and policies

review and develop clear and meaningful KPIs to measure these

review and revise risk management and policies

allow for Board discussion and to gain agreement so that the final document is an accurate reflection of the directors' view of the business.

During writing - you need to allow for additional time and resources, as:

the OFR will probably cover more pages than you anticipate

you will need to involve more people to provide the data

review and develop clear and meaningful KPIs to measure these

you will need to allow more time for discussion and agreement.

After writing:

you need to plan, and allow time, for the auditors to review.

How soon should you start?
You should start at least three months before your OFR financial reporting year begins. If your OFR financial reporting year has already begun you need to move fast!

Sd3 and Greek House have teamed up to provide a new OFR advice service
Our service provides a unique combination of experience and expertise in annual report writing and corporate responsibility reporting. Importantly, our OFR advice also comes with first-hand experience of actually having written an OFR, using the new standards, for a FTSE 250 company.
Once you have taken our scorecard test and know where you stand, our nine-stage production process ensures we can provide the right advice and support wherever you need help along the way.

Scorecard
Click here to download our three-minute scorecard designed to help you check how prepared your company is for the new requirements. You may have to report for the first time on issues such as:

business objectives, strategies and policies

key performance indicators

forward looking statements

significant risks and business relationships

environmental impacts

engagement of employees and society.

If you would like a hard copy of the scorecard please contact us using details below.

We Can Help by Providing:
Awareness seminars for directors and senior managers
Practical workshops to identify and quantify the implications for your company
Practical advice during OFR production:

advice on content requirements

planning the OFR production process and project management

review and development of objectives, strategies, policies and KPIs

risk policy review - especially to include wider social and environmental risks

stakeholder mapping and engagement

information and data gathering, collation and analysis

report drafting and proof-reading

editing and polishing of text written in-house or by a copywriter

report design, print and web-site management.

Why Choose Us?
We have:

researched and written an OFR for a FTSE 250 company, working in-house, covering 2004/05

12 years' experience of annual and interim report production

10 years' experience of corporate responsibility reporting for some of the world's largest companies

outstanding expertise in non-financial management - advising companies globally on the integrated management of environmental, social and economic performance, including: strategy and policy development; objective, KPI and target setting; corporate risk assessment integrating social and environmental factors

first-hand knowledge of the practicalities and pitfalls

helped many companies produce their first reports.

We will help you develop an integrated reporting strategy that optimises the use of:

OFRs

annual reports

annual reviews and summary financial statements

corporate responsibility/CSR/sustainability reports

first-hand knowledge of the practicalities and pitfalls

web-based reports and portals.

For More Information and Advice Please Contact:
Jason Perks: 020 8355 6821 or jason.perks@sd3.co.uk
Andrew Panting: 01799 586031 or a.panting@greekhouse.co.uk