AstraZeneca have an odd risk which they call “emerging risks.” They describe them as follows: “Emerging risks are ‘new’ risks that may challenge us in the future.” [1] The important word here is ‘may’. But how can they be important, even material enough to put in a financial report, when they don’t know exactly what…
I am surprised by the inventiveness of companies that use 52 weeks annual reporting instead of the more usual 12 months. I have often wondered why they think that 364 days is better than 365. They must believe that this one day is important to leave out, but they never tell us why. Sometimes the…
Bristol Myers, as pioneers of the future, introduce a unknown business risk in their 2021 Annual Report: “Increased use of social media platforms present risks and challenges.” They are afraid of inappropriate use of certain media vehicles and of ‘inaccurate posts or comments’. All this according to them could damage their ‘reputation, brand image and…
The Scottish like the word uplift and have given it many different meanings, none of which accountants use. The first Scottish use of uplift can be to make someone proud. Accountants are not interested in pride so have not used this meaning. The second Scottish use of uplift is in the collecting of rent or…
Here is their risk statement: “Increasing levels of water stress which reduces the level of the availability of water for our operations.” [1] Perhaps their manufacturing sites are in the desert, but this information has not been included in their annual report. However, later they announce that the water stress risk has a low risk…