Santos has been recognised for its high standards of corporate reporting by winning its second Gold Award at the 57th Australasian Reporting Awards.
The award recognises the quality of information provided in Santos’ 2006 Annual Report and the level of disclosure about the company’s performance and outlook.
To win the Gold Award, Santos had to achieve overall excellence in annual reporting, provide high-quality coverage against the demanding ARA Criteria, provide full disclosure of key aspects of its core business, address current legislative and regulatory requirements and be a model for other peer reports.
Santos was one of 42 organisations to receive a Gold Award out of more than 300 that entered.
This award builds on other external recognition that Santos has received in this area, including:
- receiving special mention for four years in PricewaterhouseCoopers’ Good Practices in Corporate Reporting publication, which provides a global analysis of companies that demonstrate leadership in transparent communication with the markets
- achieving a five-star rating for corporate governance for the past five years in the independent report prepared by leading accounting and management firm, Horwath, and the University of Newcastle
- being listed on Australian SAM Sustainability Index (AusSSI) and Reputex Social Responsibility Index, which track the performance of those companies considered to be leaders in corporate social responsibility.
About the ARA
The Australasian Reporting Awards were established more than 50 years ago to raise the standards of business and financial reporting.
The awards are run by Australasian Reporting Awards (Inc.), an independent not-for-profit organisation supported by volunteer professionals from the business community and professional bodies concerned about the quality of financial and business reporting.
The awards provide an opportunity for organisations to benchmark their reports against the ARA criteria. The awards are open to all organisations that produce an annual report, such as companies, government departments, non-government organisations, charities and educational institutions.