© 2010 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG and the KPMG logo are registered trademarks of KPMG International.

Liability limited by a scheme approved under Professional Standards Legislation.1

Today’s Meeting – A Broad Cross-Section of the Reporting Supply Chain

Academia WICI Australian Business Leaders Forum Accounting bodies Legislators Regulators Standard Setting

Oversight

Christina BoedkerUniversity of New South Wales

James GuthrieUniversity of Sydney

Anna YoungUniversity of Sydney

Professor Yasu HanadoWaseda University

Yoshiko ShibasakaKPMG Japan & WICI Secretariat

Christina BoedkerSKE

Michael BrayKPMG

Nick RidehalghPwC

Penny StragalinosKPMG

Steve VamosSKE

Geraldine MagareyICAA

Alex Malley CPA Australia

Karen McWilliamsICAA

Lee WhiteICAA

Paul MaddenTreasury

Doug NivenASIC

Bruce BrookFRC

Charles MacekIFRS Advisory Council & FRC

John StanhopeFRC

Chief Financial OfficersDirectors / Chief

Executive OfficersAuditors

Investor Relation Officers &

Communication GroupsAnalysts

Investors & other stakeholders

Gareth EvansQantasPeter LewisSeven Group & Group of 100Andrew PoulterBoralJohn StanhopeTelstraGeoff HarrisGroup of 100

Bruce BrookLihir, Salvation Army, Boart Longyear, Programmed Group, Snowy Hydro, EFICCharles MacekOrchard Funds, Sustainable Investment Research Institute, UnisuperJohn StanhopeTelstra, AGL EnergySteve VamosTelstra, SKEWarwick WatkinsNSW Government – Land & Property Management Authority

Michael BrayKPMGMerran DawsonPwCPeter NashKPMGNick RidehalghPwCPenny StragalinosKPMG

Alison EwingsWestpacSally HermanWestpacIan MathesonAIRAClaire PayneMacquarie Bank

Hamish TadgellGoldman Sachs JB Were

Victoria ColemanSt James Ethics CentreSimon LongstaffSt James Ethics CentreErik MatherRegnanAmanda McCluskeyColonial First State Global Asset ManagementRosemary SaintyUN Global Compact

© 2010 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG and the KPMG logo are registered trademarks of KPMG International.

Liability limited by a scheme approved under Professional Standards Legislation.2

Current reporting portfolioFragmented, voluminous, complex, untimely, not focused on intended use by audience, costly, multiple initiatives / calls to action all competing for the same management time and financial investment

Periodic required reporting

Periodic voluntary reporting

Compulsory continuous reporting

Periodic ESG reporting

Half year

financial

statements

Full year

financial

statements

Remuneration

report

ASXAppendix

4D

ASXAppendix

4E

Annual

report

Half year

mediarelease

Full year

mediarelease

Investor

strategy

briefing

Half year

investor

presentation

• underlying

profit

Summary

business

report

Full year

investor

presentation

• underlying

profit

ASXcontinuous

disclosures

Sustainability

reports

UN Global

Compact

The Prince’s

Accounting for

Sustainability

Project (AS4)

NGERS

reporting

International

Integrated

Reporting

Committee

(IIRC)

Global

Reporting

Initiative

Multiple initiatives, all competing for the same management time, but not offering capital markets reward

Backward looking, complex, voluminous, untimely

Some do it well, some do it badly, all do it differently

Lack of assurance on process and content

Climate

Disclosure

Standards

Board

© 2010 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG and the KPMG logo are registered trademarks of KPMG International.

Liability limited by a scheme approved under Professional Standards Legislation.3

Steps in the business reporting journey

© 2010 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG and the KPMG logo are registered trademarks of KPMG International.

Liability limited by a scheme approved under Professional Standards Legislation.4

Where is business reporting heading?

NextNow

Enhance financial reporting

Critical ESGinformation to

capital markets

Integratemanagementcommentary

Use technology(XBRL, web-based)

© 2010 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG and the KPMG logo are registered trademarks of KPMG International.

Liability limited by a scheme approved under Professional Standards Legislation.5

Better Business Reporting Model

• Business Reporting Framework• Market: corporate overview and business landscape• Strategy and key performance indicators• Performance: strategic objectives and business model• Performance insights / prospects

• Automation• XBRL• Web-enabled

• Tools – KPI Libraries• WICI is building libraries• Automotive, Electronic Components & Pharmaceuticals were released last week• Mining project is kicking off

Company-Specific

Industry-Specific

GAAP-Driven

© 2010 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.KPMG and the KPMG logo are registered trademarks of KPMG International.

Liability limited by a scheme approved under Professional Standards Legislation.6

The Journey to BetterBusiness ReportingMoving beyond financial reporting to improve investment decision making

Australia