Novo Nordisk reporting acknowledged with the C20 accounting award
On 12 June Novo Nordisk’s 2011 Annual Report was honoured with the 2012 C20 accounting award (C20 Regnskabsprisen). The winner is selected by an independent and broad jury with six members and the award is sponsored by PwC.
This award is given to a member of the top-tier stock market index for the Copenhagen Stock Exchange (OMX C20). Based on an overall evaluation the jury selects the company that is most successful with its reporting within these three themes:
• Performance and outlook follow-up
• Stringent and structured reporting - cutting clutter
• Strategic goals and risk (operation and financial)
Clutter cutting defines Novo Nordisk reporting
Last year, there were three winners of the C20 accounting award in various categories, but in 2012, the jury decided to find only one winner:
“Novo Nordisk is among the best within all of the three themes and is clearly the best example of cutting clutter.”
The jury also praised Novo Nordisk’s reporting for focusing on the essentials and for being well structured with great emphasis on results and strategy.
Some of the more elaborate feedback that Novo Nordisk received was that the stringent and well-structured reporting benefited from the close connection between the financial results and CSR and environment.
“We are grateful to have received this award and appreciate the jury’s motivation. In our work to make an Annual Report that effectively communicates to our financial stakeholders the company’s performance and position, we make an effort at making it compact, concise and consistent,” says Lars Green, senior vice president of Corporate Finance in Novo Nordisk.
The C20 accounting award
The Danish C20 accounting award was first awarded in 2011, where Novo Nordisk won a prize for the best description of earnings quality and liquidity in the 2010 annual report.