Die rol van 'n missiestelling as deel van finansiële verslagdoening van genoteerde maatskappye

Abstract

Financial reporting by companies has undergone various changes during the last decade. The needs of users of financial annual statements have become more refined and the number of users has grown. Companies now and in the future therefore have to report in such a manner that the needs of all interested parties are met in order to assist in the decision-making process. A shift in emphasis in reporting historical data and the stewardship function towards future-oriented information has become apparent. After a thorough study of the literature regarding the direction towards which reporting is developing as well as the more refined needs of users of these reports, the mission statement of a company has been identified as the document that can contribute to the quality of the process of reporting. Where the focus initially fell on the profitability of a company, other values like philosophy, ethics, social responsibility, environmental conservation and relationships with employees, have become increasingly in important. The mission statement is the document where all these aspects can be presented in a structured manner. By means of the literature study the mission statement has been analysed in depth. In the empirical study mission statements as they are presently presented in South Africa by the top hundred companies, have been analysed. In coherence with the development in reporting, the literature and empirical studies, a conclusion has been reached and an endeavour has been made to establish a model mission statement that can be used as a guideline in order to improve the quality of reporting.