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  • Energy, utilities & mining: Extracting value: What do investment professionals need from mining company reporting?: PwC
    Monthly highlights Spotlight The CEO agenda CEO insights blog Careers About PwC Technology careers Employer of choice Our history PwC Professional Employability Aspire to lead PwC s series on leadership and gender equality Country job search Explore careers with Strategy Press room Facts and figures Press contacts Analyst relations Global International PwC Sites Commonly visited PwC sites Global Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Extracting value What do investment professionals need from mining company reporting Download PwC s survey of investment professionals highlights clear areas for improvement and opportunities for management to set themselves apart Key findings of the survey include Investment professionals following companies in the mining sector tell us they do value corporate reporting They particularly want to hear about measures that populate their models and that move the market Investors and analysts want not only to be able to access them easily but also to have confidence in their reliability Investment professionals link the quality of a company s reporting with the quality of that company s management The better the reporting the better they perceive the management team to be So how can management improve the quality of their reporting to investment professionals The survey suggests it can done by Providing key performance metrics clearly and consistently Making sure all messages delivered across reporting channels they control are consistent Thinking about the needs of investment professionals whenever they report on corporate performance Mining companies that take the lead in such ways can differentiate themselves from competitors strengthening market confidence in their own quality as they do so Energy utilities and mining Oil and gas Power utilities Global Power

    Original URL path: http://www.pwc.com/gx/en/industries/energy-utilities-mining/mining/publications/extracting-value-what-do-investment-professionals-need-from-mining-company-reporting.html (2016-02-10)
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  • Avoiding fund governance’s mounting risks: Asset Management Insights: PwC
    enforcement actions have shone a spotlight on governance for Investment Company Act of 1940 funds And in Europe some pension funds now require a strong independent board before they will invest in a hedge fund Illustrating the trend towards tighter governance the Association of the Luxembourg Fund Industry updated its governance code in July following the Irish Funds Industry Association s new code published in late 2012 1 Regulators trade associations and investors alike are concentrating on ways to manage the asset manager s inherent conflict of interest between profit and fund returns At the heart of this drive to ensure fair treatment for the investor lies the independence and effectiveness of the fund board and committees Once in place these bodies need to look into a number of long standing and emerging areas where governance dangers are particularly acute If funds don t have strong governance in place across all of these areas the damage to the asset manager can be substantial Direct costs include investor compensation following litigation and regulator fines following enforcement action Indirect costs include the impact of negative publicity on a brand and the loss of prospective and current investors And once lost investor confidence is very difficult to regain Four hot topics Fairness of third party fees In the US the SEC is scrutinising how fund boards review funds contracts with service providers especially the investment adviser and fund distributor Boards review these contracts annually and have a responsibility to make sure that the quality of services provided among other things is aligned with the fees paid by the fund and its shareholders Similarly in Europe there is a focus on fee arrangements although more towards transparency and appropriateness of fees charged to the fund Overseeing risk management including regulatory and compliance risk In the area of risk management the board has to strike a delicate balance it must oversee the investment adviser s risk management process including for regulatory and compliance risks but not get so involved that it s actually managing risks What s more fund directors need to be confident that management is not only addressing known risks facing the fund industry but also emerging risks such as fraud cyber security and in particular regulatory change Valuation processes As funds have ventured further into the realms of investing in hard to value illiquid securities the question of how boards oversee valuation has concentrated the minds of many directors In broad terms the board should have a good understanding of the valuation process and organise itself to oversee this process appropriately It should also review the adequacy of disclosure of valuation processes Third party distribution Oversight of third party distributors is a hot topic and one which our Luxembourg Fund Governance Survey 2012 revealed as an area for improvement Boards need to make sure that distributors marketing materials are accurate and not misleading and comply with regulations as well as that they re following sound anti money laundering procedures Regulators in the

    Original URL path: http://www.pwc.com/gx/en/industries/financial-services/asset-management/publications/asset-management-insights/avoiding-fund-governances-risks.html (2016-02-10)
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  • World Watch: Governance: PwC
    and gender equality Country job search Explore careers with Strategy Press room Facts and figures Press contacts Analyst relations Global International PwC Sites Commonly visited PwC sites Global Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Governance Governance news and views to help you secure the future of your organisation News Swiss fat cat rule beds down with lessons for global companies too Institute of Directors moots good governance index As regulation and compliance sweep Africa so does transformation Survey shows two thirds of businesses already taking action over UN Sustainable Development Goals Long read Compensation committees facing wave of Dodd Frank disclosures Clawbacks are top of mind for the C suite Interview Proper oversight of accounting changes is critical Feedback Why sharing your views with standard setters is really important Converged Indian accounting standards the top five changes Forcing CEO change is costing companies billions Social and ethical sourcing is Australia falling behind Cultural perceptions need to catch up with policy Much much more on non executive directors plates Balance sheets set to swell as new lease proposal set for ballot Investors call for clarity and conciseness in policy disclosures IASB Chairman reveals new mission statement Convergence under pressure as IASB and FASB discuss potential revisions to revenue standard Boards take a look at themselves amidst climate of rising expectations and demands Now hiring Chief data officer for a financial firm Data show massive opportunity to engage the retail vote Comment and analysis Interview Proper oversight of accounting changes is critical Audit committees must have a good view of companies financial reporting and that includes accounting changes says Mary Ann Cloyd In focus

    Original URL path: http://www.pwc.com/gx/en/services/audit-assurance/corporate-reporting/world-watch/governance.html (2016-02-10)
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  • 18th Annual Global CEO Survey: PwC
    Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites 18th Annual Global CEO Survey Taxing times for global business Download Taxing times for global business Despite evidence that governments around the world are reducing tax costs and compliance these efforts are not being felt by CEOs Here we explore some of the reasons for the disparity PwC s 18th Annual Global CEO Survey reveals that seven in 10 CEOs are still concerned about the increasing tax burden borne by their businesses some 15 percentage points higher than the levels of anxiety seen in 2012 These high levels of concern are despite the trends seen in the annual PwC World Bank Group study Paying Taxes The Global Picture which suggest a different story The most recent study shows that not only has the global average Total Tax Rate for a typical medium sized company fallen by 1 3 percentage points but so too has the compliance burden measured by the average time it takes a case study company to comply with its tax responsibilities and the number of tax payments required to be made Indeed all three of these sub indicators have shown a steady downwards progression over the past decade So why is there such a mismatch Explore CEOs perspectives and what business and government can do Close Close Close Close Global tax About global tax Global Tax code of conduct Indirect taxes eBiz 2015 Global VAT online Research insights International tax services EU direct tax group Latin American Tax Group International Tax Desks Global R D incentives Research insights Mergers acquisitions Tax reporting strategy Tax strategy operations Tax technology Tax accounting services Tax reporting

    Original URL path: http://www.pwc.com/gx/en/services/tax/publications/ceosurvey-tax.html (2016-02-10)
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  • Corporate reporting has to evolve - our model shows a way forward: PwC
    insight The focus of business and reporting is changing Successful business leaders recognise the need to focus on sustained value creation Now more than ever this requires a broader view of growth than just increased output and short term financial returns as significant mega trends are putting to the test the resilience sustainability and impact of organisations strategies and business models Today s assurance model doesn t always easily fit The audit has played and continues to play a critical role in building trust in financial reporting But today s broader assurance model is not always an easy fit with corporate reporting that is transitioning to a model that is broader more forward looking and more integrated We believe there is another way to build trust We propose an approach focused on providing insight into various dimensions of an organisation s reporting This would let stakeholders look behind what s reported to understand where an organisation is on its reporting journey The aim is to accelerate change Organisations internal and external reporting are already beginning to evolve to reflect the new demands of a changing world and a broader set of drivers of value creation The assurance profession should support and accelerate this journey but we need to be prepared to think outside the box about how trust can be built in innovative ways Corporate reporting is evolving Sound business decisions increasingly need to reflect accountability to a wider set of stakeholders and an integrated view of the outcomes and impacts of the organisation s activities Can it all be assured Today s assurance model assumes a mature reporting model and not all information is yet assurable in that more traditional sense Is there another way We believe the answer is yes The way forward lies in challenging current concepts

    Original URL path: http://www.pwc.com/gx/en/services/audit-assurance/publications/inspiring-trust.html (2016-02-10)
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  • 10Minutes on integrated reporting: PwC
    us Alumni Alliances Awards Corporate responsibility Diversity Our global site Press room Video library Careers PwC Open University United States International PwC Sites Commonly visited PwC sites Global Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites 10Minutes on integrated reporting April 2014 At a glance Investors have been showing increased interest in the correlations between financial performance and sustainability factors like resource scarcity environmental performance and corporate governance when assessing a company s future risk and growth opportunities Is your company ready to respond This 10Minutes highlights insights and benefits companies can glean into these issues by integrating their thinking to develop a better understanding of impacts to their businesses allowing them to tell a more holistic value creation story Download 10Minutes on integrated reporting Create custom report Download chart pack Download the iBook for your iPad Investors are seeking improved transparency around financial and non financial factors alike and their effects on the company s strategy governance performance and future prospects But having better insight into these issues benefits companies too Whether your company is looking to achieve better alignment around strategic goals focus on performance gaps and opportunities or encourage collaboration across key internal functions in the organization this 10Minutes explores how developing a path to greater transparency through integrated reporting may be worth discovering At a glance See how integrated thinking and reporting change the questions executives ask from shorter term and fractured to more forward looking and holistic Related thought leadership Integrated Reporting Going Beyond the Financial Results Sustainability Valuation An Oxymoron 10Minutes on environmental and social risk 10Minutes current topics 10Minutes App About the 10Minutes program Upcoming 10Minutes topics

    Original URL path: http://www.pwc.com/us/en/10minutes/integrated-reporting.html (2016-02-10)
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  • Ensuring trust in a complex world
    job search Explore careers with Strategy Press room Facts and figures Press contacts Analyst relations Global International PwC Sites Commonly visited PwC sites Global Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Ignorance isn t bliss Ensuring trust in a complex world Download No excuse for ignorance A good reputation as Warren Buffet famously pointed out takes 20 years to build and only five minutes to ruin His observation holds more truth for more organisations today than ever before Reputation is far more than image or public perception It s a major component of value how one creates and renews the trust that underpins the ability to attract and retain customers transact business and compete in global markets And it s increasingly vulnerable Business leaders need to know that what their organisations say and what they do are consistent stack up and don t leave them exposed They also need to apply that same rigour to third parties The consequences of failing to do so could be grave Boards and senior management therefore need to ask the right questions and further seek assurance that the answers they receive are accurate dependable and robust enough to share with their stakeholders Assurance that performance is being achieved therefore has a key role to play It offers a source of powerful differentiation and a solid platform for competitive outperformance and value creation Audit and assurance services Financial statement audit Corporate reporting Integrated reporting Good practices Governance reporting Investor view Survey Webcasts Remuneration people and tax reporting Management and board reporting World Watch magazine Governance Corporate reporting Financial reporting Assurance Library of articles Talk to us IFRS reporting

    Original URL path: http://www.pwc.com/gx/en/services/audit-assurance/publications/ignorance-is-not-bliss-ensuring-trust-in-a-complex-world.html (2016-02-10)
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  • Spotlight on tax and transparency: PwC
    some of the steps companies are taking to rebuild trust with their various stakeholder communities It s not often that tax grabs the global headlines but in 2013 the amount of tax companies pay has dominated debate at the G8 summit and attracted increasing amounts of media coverage Greater regulation of the reporting and sharing of tax information either to tax authorities or more publicly is only part of the story The issue of transparency has broader implications especially in a complicated business environment where companies must be able to adapt to dynamic fast changing markets the increasing power of the consumer and the evolving relationships between companies and their stakeholders How companies manage tax and transparency is an important piece of that larger business puzzle called trust Winning the trust of their stakeholders and society at large is crucial if businesses are to succeed in attracting and retaining more customers maintaining employee morale as well as improving operational effectiveness 37 of the CEOs we talked to in the 16th Annual Global CEO Survey were concerned that a lack of trust in their industry would set back their growth prospects Top concerns about threats to growth Essential reading Find out more about why tax is getting attention from business leaders around the world what steps CEOs are taking to rebuild trust in a new world of 24 7 media scrutiny and influence and read our latest insights on building trust Interested in finding out more Take a look at these selected insights from PwC In this short video Ian Powell PwC UK Chairman and Senior Partner shares his view on building trusted relationships Rick Stamm Vice Chairman Global Tax reflects on how tax has become a new risk to corporate reputation Find out how tax regimes compare across 185 economies

    Original URL path: http://www.pwc.com/gx/en/research-insights/spotlight/tax-transparency.html (2016-02-10)
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