OECD Guidelines Chapter 3: Disclosure
Transparency about your business is of the utmost importance. By regularly disclosing accurate information on all business activities, you show that you have nothing to hide and you present yourself as a trustworthy and reliable business partner.
When providing information, take the following into consideration:
Regularly disclose reliable and material information, regarding:
- Basic corporate information: name, address, locations and legal entity.
- Substantive information such as corporate objectives, shareholders, financial results, governance and remuneration structure, risk factors and substantial changes within the company.
- Additional information including environmental and social performance, codes of conduct and relationships with stakeholders. Providing this additional information will create an image of a transparent organization. For example, you could provide information about how the company systematically controls risks and ensures compliance with laws and codes of conduct and the results of these statements about your relationship with employees and other stakeholders.
Additionally, aside from providing high quality financial information, you could be more ambitious about disclosing non-financial information, such on environmental or social issues. Whether the information to be disclosed is financial or non-financial, is is advisable to also publish the underlying standards that are used within your business operations.