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Russian Companies Share Experiences in Preparing Public Annual Reports

Published 09 November 2015 | By TENEX

On 16 July 2015, TENEX and Atomenergomash held the second round-table discussion on “Russian Companies’ Approach to Preparing Public Non-Financial Reports”, with support from Nexia Pacioli Consulting, which acted as the event’s moderator.

The round table has brought together representatives of State Corporation Rosatom and its organisations, as well as large Russian industrial enterprises, banks, and consulting companies, including PJSC MMC Norilsk Nickel, Zarubezhneft JSC, United Metallurgical Company (OMK), Siberian Coal Energy Company (SUEK), United Shipbuilding Corporation, PJSC FGC of UES, NLMK Group, State Corporation Vnesheconombank, Russian Agricultural Bank, NP Consult, Carriage Repair Company-2, Carriage Repair Company-3, PJSC TransContainer, and Russian Regional Integrated Reporting Network.

The attending company representatives used the discussion to share their experiences in preparing public non-financial reports - including in accordance with G4, the latest version of the Sustainability Reporting Guidelines from the Global Reporting Initiative Global Reporting Initiative (GRI) - and approaches to organising dialogue with interested parties during report drafting. They also talked about foreign and domestic practices in regulating public non-financial reports, developing and implementing internal regulations and ordinances in this field, and interacting with consulting and audit companies during report preparation.

The attendees were unanimous that today's international legal framework on public reporting provides businesses with broad opportunities in choosing tools for interaction with interested parties and working out the most appropriate format to present information in annual reports while maintaining strict compliance with domestic law on reports.

Background information: The first round-table discussion on "Russian Companies' Approach to Preparing Public Non-Financial Reports" took place on 24 June 2014. (http://tenex.ru/wps/wcm/connect/tenex/site_eng/PressCentre/e6a05780448584aaaaf7aae920d36ab1)