By Mark Vaessen, Global IFRS Leader at KPMG

Many of the business leaders we spoke to for our publication on corporate reporting were optimistic about the impact of new technology. They highlighted two developments that are likely to help investors find their way round corporate reports.

By Mark Vaessen, Global IFRS Leader at KPMG
The balancing of risk and opportunity lies at the heart of corporate reporting. Indeed, in the financial crisis that began in 2008, we lacked insights into the risks that were building up. Admittedly, there were already warning signs to be found in corporate financial statements prior to 2008, if people had looked hard enough. But clearly more needs to be done by preparers to explain to investors the risks companies face and how they are dealing with them.

By Fiona McDermott, Partner for KPMG’s Business Modelling Group

The majority of business leaders in Europe and the UK now think that one or more Eurozone countries will default on its sovereign debt this year, according to research by KPMG. Many UK businesses are debating whether the Eurozone crisis could be another Y2K and what the real impact on businesses profitability and cash flow might be. But only a minority of businesses are currently making contingency plans for such an event, according to our research. My view is this is not a theoretical debate; the market is already changing and creating a different business environment.

By Adam Bates, UK head of KPMG’s Risk Consulting practice

The World Economic Forum, which started its annual meeting in Davos today, recently published its “Global Risks 2012” report. It considers the views of 469 risk experts with the objective of identifying the trends and impact of 50 different global risks. However, the key question for businesses is – to what extent can they influence or have any control over the main risks as identified by the Report?

By Gerry Penfold, Risk Consulting Partner, KPMG

David Sexton made an interesting point in his recent article in the Evening Standard: Smart phones turn their owners into zombies. Sexton laments the “semi-autonomous” state of London’s commuter population, half-distracted from reality by the digital world clutched in the palms of their hands. But, from my perspective, this is further evidence that smart-phone technology is rapidly changing the way we think, act, and do business. Such progressive opportunities however, open up complex risks.  So what are the] risk implications and opportunities for businesses?

By Brent McDaniel, UK head of KPMG’s reputational risk practice

Mobile phones, hearing aids and cameras – these are just a few of the products that may potentially contain conflict minerals, so called because they are sourced from countries such as the Democratic Republic of Congo (DRC) or its neighbours.

By Oliver Tant, UK Head of Audit
I was delighted to hear that, having been shortlisted for the fourth time, Julian Barnes has been awarded the Man Booker Prize for The Sense of an Ending.  It was described on the shortlist as “A truly wonderful novel that will have the reader immersed in the story from the very first page.” I don’t get a lot of time to read for pleasure, though I do spend an awful lot of time reading – it’s unavoidable, because listed companies’ annual reports get longer every year.