Communication of financial results by the Maltese archdiocese : a case study

Abstract

PURPOSE: This study sets out (i) to analyse the evolution of financial reporting practices employed in the Maltese Archdiocese’s publication of annual financial reports, (ii) to evaluate the alternative public communication strategies employed by the Maltese Archdiocese and assess their effectiveness, and (iii) to evaluate the motivators that induce the Archdiocese to continue to publish its financial information. DESIGN: A qualitative methodology was applied to accomplish this study’s aims. The data collection first involved a content analysis of all the financial reports published by the Maltese Archdiocese from 2002-2022 and press release documents from 2017-2022. Following this, the researcher conducted three semi-structured interviews with key financial and communication department representatives involved in their preparation. FINDINGS: The research reveals a shift in the Maltese Archdiocese’s financial reporting practices over the past twenty-one years. The Maltese Archdiocese showcases unwavering dedication to concise and transparent reporting, transitioning from comprehensive reports, including financial and non-financial data, to succinct presentations focusing solely on financial metrics. Beyond traditional reports, the Maltese Archdiocese employs diverse communication methods, including press conferences, press releases, and PowerPoint presentations, to enhance accessibility and comprehension of financial information. Despite occasional gaps in media coverage, journalists play a crucial role in disseminating financial data to the public. Ultimately, the Archdiocese’s dedication to transparency and accountability highlights its commitment to stewardship accounting, serving as a beacon of trust and integrity within the Maltese community. CONCLUSIONS: In conclusion, the study reveals the Maltese Archdiocese’s adept balance in communicating financial results and prioritising transparency through stewardship accounting while ensuring understandability to lessen the extent of misinterpretation among unsophisticated stakeholders. Consequently, journalists serve as crucial intermediaries in disseminating financial information to a broader audience, bridging the gap between the Maltese Archdiocese and the general public. IMPLICATIONS: This research aims to provide insights into the Maltese Archdiocese’s communication of financial results. The recommendations put forward could significantly assist the Maltese Archdiocese in enhancing its communication efforts, especially in an era marked by evolving public expectations due to further secularisation. By embracing these recommendations, the MA can elevate its transparency and accountability levels, ensuring its financial results are effectively communicated to the general public.