TELUS is Canada’s best in corporate reporting
Vancouver, B.C. – Today the Canadian Institute of Chartered Accountants (CICA) handed TELUS five awards, including the Overall Award of Excellence for Corporate Reporting, at the 2007 Corporate Reporting Awards ceremony held at the Convention Centre in Toronto. TELUS’ corporate reporting was judged by the CICA to be the best overall in Canada across all industries.
TELUS was lauded for its leadership in all aspects of corporate reporting, and for the first time won the Overall Award of Excellence for Corporate Reporting. TELUS received the award for its strong commitment to excellence in corporate governance and disclosure, its detailed and transparent financial reporting and comprehensive sustainable development leadership. TELUS was singled out by the judges for “well-rounded and detailed disclosure, innovative governance practices and leading-edge code of ethics.” TELUS’ best practices include establishing measurable targets for the environmental indicators tracked in its reporting package, auditing non-financial metrics and comprehensive MD&A (Management Discussion and Analysis) and financial statements. It was also noted, the telus.com website was well-planned, user-friendly and provided investors with considerable content on which to base decisions.
“At a time when investor expectations around governance and reporting have never been greater, it is truly an honour to have the CICA present us with these awards,” said Robert McFarlane, TELUS executive vice-president and chief financial officer. “At TELUS, we are firmly committed to full and fair financial disclosure and best practices in corporate governance, so to receive formal recognition for our team’s efforts is truly gratifying.”
In another first, TELUS landed the Award of Excellence in Sustainable Development Reporting. The practice of auditing non-financial metrics was recognized as industry leading as was TELUS’ clear and measurable targets to integrate social responsibility and sustainability into its core business strategy. The CICA panel of judges appreciated the efforts TELUS made to communicate credible non-financial information to the public. TELUS includes an audit of the majority of economic, community, workplace and environmental indicators to create a report that shows TELUS has become a leader in sustainability reporting.
TELUS won the Award of Excellence for the third time in the Corporate Governance Disclosure category. The CICA praised TELUS for its practices in disclosure, governance and code of ethics. “TELUS is a clear cut winner in this area,” said the judges. The exemplary practices as noted by the judges include an extensively detailed ethics policy, an easy to navigate Corporate Governance section on telus.com, specific corporate governance education as a part of continuing education and a unique insider trading policy, just to name a few.
The CICA Award of Excellence for Corporate Reporting in the Communications and Media category also went to TELUS for its 2006 Annual Report. This is the 13th consecutive year the CICA has recognized TELUS for excellence in corporate reporting. The judges also called the TELUS 2006 Annual Report “a good read and goes beyond what you would expect” and they were “impressed with how measures, targets and outcomes were thought out.” TELUS’ scorecard disclosure was highlighted, impressing judges with how measures, targets and outcomes were thought out.
TELUS was gratified to have received for the first time Honourable Mention for Excellence in Financial Reporting, and was singled out for its detailed disclosure and model scorecard. “The scorecard is nothing short of excellent with forthright discussion of what to expect, what was expected and what occurred,” commented the judging panel.
The independent judging panel includes members of the CICA, the Canadian Investor Relations Institute, the Toronto CFA Society, the International Institute for Sustainable Development and the Institute of Corporate Directors.
To view the 2006 TELUS Annual Report online, please visit www.telus.com/annualreport.
TELUS (TSX: T, T.A; NYSE: TU) is a leading national telecommunications company in Canada, with $9.0 billion of annual revenue and 11.0 million customer connections including 5.4 million wireless subscribers, 4.4 million wireline network access lines and 1.2 million Internet subscribers. TELUS provides a wide range of communications products and services including data, Internet protocol (IP), voice, entertainment and video. Committed to being Canada’s premier corporate citizen, we give where we live. Since 2000, TELUS and our team members have contributed more than $91 million to charitable and non-profit organizations and volunteered more than 1.7 million hours of service to local communities. Eight TELUS Community Boards across Canada lead our local philanthropic initiatives. For more information about TELUS, please visit telus.com.
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