We are delighted to announce that Team Finance are the 2020 winners of the Public Finance Awards in the category of Achievement in Financial Reporting and Accountability! Image Annual Report and Accounts 2018/19 There were six entries that were shortlisted in the award category but The Unversity of Edinburugh won the award for our achievement in our financial reporting over the last few years. Since 2016, the University's Finance team have adopted a methodolgy called Integrated Reporting as a way of reporting a fully integrated position that shows how the University uses all the capitals available to it in a sustainable and socially responsible way. The University’s financial review simplifies the complexity of the financial reporting requirements under FRSI 02. It does this through the use of graphics, charts and storytelling, which it also uses to help all readers better understand the Annual Report and Accounts. Behind the scenes To achieve our objectives, each year the team organise individual briefing sessions with key stakeholders, looking at how the integrated report should be presented. These include student representatives and members of Court. Engaging stakeholders early helps to make sure the annual report and accounts truly reflect the depth and breadth of the University's work – from community work to supporting refugee academics. In the 2018/19 accounts, student photographers were also used to help make sure the student experience was truly reflected, putting students at the heart of reporting. The University also produced videos to answer the question: ‘What does the Annual Report and Accounts mean to me?’ Team Finance at the University have committed to observing the latest developments in Integrated Reporting in order can measure impact and continually improve our work. The University of Edinburgh has spearheaded the use of Integrated Reporting in the Higher Education sector, to deliver informative financial accounts that are balanced with a vivid narrative and an eye-catching and engaging creative layout. Judge, Public Finance Awards 2020 Watch the Public Finance award video A good approach and innovative new ideas. The university changed the narrative to improve reporting, and devised a comprehensive strategy to launch its report. Judge, Public Finance Awards 2020 Find out more Read the latest edition of the Annual Report and Accounts 2018/19. Public Finance Awards This article was published on 2024-07-01
