CA ANZ has made a submission to the Productivity Commission’s inquiry into business reporting requirements, supporting efforts to reduce unnecessary reporting and compliance costs while maintaining transparency and the value of reporting.

CA ANZ highlights the cumulative burden created by reporting requirements across different areas, particularly where businesses are required to provide similar information to multiple users. Greater alignment and reuse of information could help reduce duplication and make reporting more efficient.

The submission also highlights opportunities to improve coordination across sustainability and other non-financial reporting requirements, including better use of information already held by businesses and government.

CA ANZ supports a proportionate approach that takes account of the different objectives of reporting requirements and the practical costs of implementation. This includes minimising unnecessary changes to established systems and processes and providing businesses with sufficient time and guidance when requirements change.

The submission also draws attention to the burden that repeated information and due diligence requests can create across supply chains, particularly for smaller businesses. A “tell us once” approach should be considered where appropriate.

Overall, CA ANZ supports a business reporting framework that maintains transparency and access to useful information while reducing unnecessary duplication and compliance costs.