Corporate Reporting in the Light of the Pandemic

• Jurisdiction: European Union
• Year: 2021
• Author: Vanessa Knapp

Speaker

Professor Vanessa Knapp OBE is a Visiting Professor in the Department of Law, Queen Mary University of London and an Honorary Professor in the Brunel Law School, Brunel University London. She is the UK representative on the company law committee of the Council of Bars and Law Societies of Europe. She was a partner at Freshfields Bruckhaus Deringer LLP for many years. She was awarded an OBE (Officer of the Order of the British Empire) in 2007 for services to corporate law.

Topic

This presentation delves into the crucial aspect of corporate reporting amidst the backdrop of the pandemic, shedding light on the significant challenges and opportunities that have emerged for businesses. As the world faced unprecedented disruptions, it became evident that corporate governance plays a pivotal role in navigating these turbulent times successfully.

Throughout this discourse, we aim to unravel the essential areas of corporate governance that boards must diligently address while preparing their reports. As they embark on this journey, a profound understanding of their responsibilities and obligations will empower them to make informed decisions that benefit all stakeholders involved.

One of the primary considerations highlighted in this presentation is the need for transparency and accuracy in reporting. The pandemic has amplified the importance of reliable and precise financial information, ensuring that investors, employees, and other stakeholders are well-informed about the organization's performance and resilience during these challenging times.

Furthermore, the presentation emphasizes the significance of risk management and contingency planning. The pandemic revealed the vulnerability of businesses to unforeseen events, emphasizing the necessity for boards to proactively identify potential risks and establish effective strategies to mitigate them. Clear and comprehensive risk disclosures in corporate reporting are now essential for fostering confidence in investors and stakeholders.

In the face of uncertainty, forward-looking assessments and estimates have gained prominence as key components of corporate reporting. Boards must carefully assess and...