The ICSA awards, now in their seventh year, have announced Provident Financial as the winner of their Best Board Disclosure award. The awards are well established in recognising talented individuals, teams and organisations for upholding and demonstrating the highest standards in governance and disclosure.
Company annual reports have become an increasingly important part of business and disclosure within such reports is one of the aspects on which investors are able to judge the future success of a company. Better and more complete disclosure is an essential means of generating confidence, not only for the company and its investors, but for the economy as a whole.
Board disclosure is one of the sections of the annual report that can reveal much about a company and is a section in which more companies produced excellent reporting than any other. The ICSA said Provident Financial’s disclosure section was well thought-through and clear throughout, with the board recognising the issues within their industry and giving a valuable insight into the business and its leadership.
Peter Swabey, Policy and Research Director at ICSA, who sat on the judging panel for this year’s ICSA awards, commended Provident Financial’s board disclosure, saying “One of the features of judging this years’ awards was the impressive level of care, thought and innovation that had gone into so many annual reports. In a strong category, Provident Financial’s stood out from its peers. Disclosure about the board, its committees and processes was detailed, but clearly set out and well thought through giving valuable insight into the business, its leadership and the way in which they are addressing the cultural issues inherent in their industry.”
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Notes to editors
Established in 1880, Bradford-based Provident Financial is a leading provider of financial services in the non-standard credit market. It employs over 3,500 people and has over 2.4 million customers across the UK and Ireland through its credit card, home-collected and online instalment credit, and vehicle finance operations. Provident Financial has an extensive community programme that invests in the communities in which its customers, agents and employees live and work.
For further details on Provident Financial, visit www.providentfinancial.com
The ICSA Awards
ICSA is the chartered membership and qualifying body for people working in governance, risk and compliance, including company secretaries. With over 120 years' experience, the ICSA develop the skills, knowledge and experience of governance professionals through qualifications, training, high-quality guidance and technical know-how. The shortlist for the reporting awards is put together in partnership with proxy advisor Glass Lewis and the National Association of Pension Funds from an assessment of governance disclosure in the annual reports of all companies across the FTSE 350.