C3.4.7.3 Completeness


“Requires that the Assurance Provider evaluate whether the Reporting Organisation has responded to stakeholder concerns, policies and relevant standards and adequately communicated these responses in its Report.”

Source: AA1000 Assurance Standard: 2003


Within financial reporting, completeness refers to the information contained in the financial statements, which must be complete in all material respects in order to present a true and fair view of the affairs of the company.

Reliability of information contained in the financial statements is achieved only if complete financial information is provided relevant to the business and financial decision making needs of the users. Therefore, information must be complete in all material respects.

Incomplete information reduces not only the relevance of the financial statements, it also decreases its reliability since users will be basing their decisions on information which only presents a partial view of the affairs of the entity.

An organisation’s understanding of its performance should be fair and balanced. Fairness should consider factors such as the importance, relevance, reliability, comparability, and how easy the information is to understand.

Reported information should be sufficiently detailed for stakeholders using the report to make decisions with a high degree of confidence. Balance requires that there is a reasonable and balanced picture of the reporting organisation’s sustainability performance and the reported performance is not distorted by overemphasis that camouflages an omission. All information that is material to users, both favourable and unfavourable, for assessing the reporting organisation’s economic, environmental, and social performance should appear in a manner consistent with the declared scope. The balance of communications can be affected by the prioritisation and presentation of information.