The winner of Sake24’s competition for the best financial report in an advertisement in printed media during July and August was Mustek. During this period 38 companies advertised financial results in the financial press.
(View in Afrikaans) Prof. Herman de Jager, head of the department of Auditing Science at the University of Pretoria and head adjudicator of the competition, said that the average compliance with the criteria of the competition in this period was very similar to May and June, namely 64%. The compliance of the companies which fare best on a monthly basis is usually around 85% while compliance of companies lower down the list is significantly lower. Therefore there are large differences in the quality of reporting when they are measured against strict norms.
Mustek, the winner for the period, placed an exceptional advertisement in terms of the judging criteria. Among the aspects which stood out were compliance with segment reporting, JSE Regulations, corporate governance and notice that the audit report was unqualified, as well as the fact that the summary in the media was audited.
In terms of reassuring the reader that information is audited and therefore credible, there is still room for improvement. In July and August 42% of companies clearly stated that their figures were audited and provided auditors’ impressions, in comparison with 65% in the previous month.
Six companies did not indicate which accounting principles were used in the compilation of the financial statements. It seldom happens that companies do not name the principles, because financial information without principles are of no value.Altogether 57% of the companies advised that they complied with the requirements of the Companies Act, somewhat lower than the previous month. A total of 53% complied with JSE regulations vis-a-vis 61% the previous month. In terms of Corporate governance, only six companies made this information public.
Most of the companies published their information between 31 and 60 days. Most companies now show their e-mail addresses – this month 32 out of 38 companies did so. The competition also comprises a visual section which is adjudicated by Prof. Ronél Rensburg, head of the department of marketing and communications management at the University of Pretoria.
In this section the Bastion Graphics agency won with the advertisement for Mustek for the year ending 30 June. The agency HKLM was runner-up with the advertisement for Anglo American interim results to 30 June, and the Ince Motiv agency came third for the Nedbank advertisement for its interim results to June.
Rensburg says that Bastion Graphics’ advertisement for Mustek’s results won because it contained everything that was expected from such an advertisement.
Artikel uit Sake24 12 Oktober 2011
Die wenner van Sake24 se wedstryd vir die beste finansiële verslagdoening in ‘n advertensie in die gedrukte media gedurende Julie en Augustus, was Mustek. Truworths International was tweede en Rainbow Chicken derde. In dié tydperk het 38 maatskappye se advertensies in the finansiële pers verskyn.
Prof. Herman de Jager, hoof van die department ouditkunde aan die Universiteit van Pretoria en hoofbeoordeelaar van die wedstryd, noem dat die gemiddelde voldoening aan die kriteria van die wedstryd in hierdie tydperk baie dieselfde was as in Mei en Junie, naamlik 64%. Die voldoening van die maatskappye waat maandeliks die beste vaar, is gewoonlik om en by 85% terwyl die maatskappye onderaan die lys se voldoening aansienlik laer is. Daar is dus nog groot verskille in die gehalte van die verslagdoening as hulle aan bepaalde norme gemeet word.
Mustek, die wenner vir die tydperk, het ‘n baie besonderse advertensie geplaas as gelet word op al die kriteria vir die beoordeling. Aspekte daarvan wat uitgeblink het, was onder meer voldoening aan segmentverslagdoening, JSE-regulasies, korporatiewe beheer en dat die outditverslag ongekwalifiseerd was asook die feit dat die opsomming in die media ook geoudit was.
Ten opsigte van gerusstelling aan die leser dat die inligting geoudit en daarom geloofwaardig is, kan daar nog verbeter word. In Julie en Augustus het 42% van die maatskappye duidelik genoem dat hul syfers geoudit is en wat die mening van die ouditeure was, teenoor 65% in die vorige maand.
Ses maatskappye het nie die grondslag waarop die finansiële state opgestel is, aangedui nie. Dit gebeur selde dat maatskappye nie die grondslag noem nie omdat finansiële inligting sonder die grondslag van geen waarde is nie. Altesame 57% van die maatskappye het gemeld dat hulle aan die vereistes van die Maatskappywet voldoen het, wat effens laer is as in die vorige maand. Altesame 53% het voldoen aan die JSE-regulasies teenoor 61% die vorige maand. Ten opsigte van korporatiewe beheer het slegs ses van die maatskappye inligting daaroor geopenbaar.
Die meeste van die maatskappye het hul inligting binne tussen 31 en 60 dae gepubliseer. Meer maatskappye toon nou aan wat hul e-pos-adres is – vandeesmaand het 32 van die 38 maatskappye dit genoem. Die wedstryd het ook ‘n visuele afdeling wat beoordeel word deur prof. Ronél Rensburg, hoof van die department bemarkings- en kommunikasiebestuur aan die Universiteit van Pretoria.
Hier het die agentskap Bastion Graphics gewen met sy advertensie oor Mustek se resultate vir die jaar tot 30 Junie. In die tweede plek was die agentskap HKLM se advertensie oor Anglo American se tussentydse resultate tot 30 Junie, en derde die agentskap Ince Motiv vir Nedbank se tussentydse resultate tot 30 Junie. Rensburg sê Bastion Graphics se advertensie oor Mustek se resultate het gewen omdat dit alles bevat het wat van só ‘n advertensie nie verwag word.
