TUI Travel PLC has won an accolade for the Best Strategic Risk Report in its 2012 annual report. The 2013 honors were handed out at Communicate Magazine’s Best Practice: Corporate Reporting conference held July 2 at the London Stock Exchange.

This award, conferred by FutureValue, acknowledges the company that is most effective in discussing its exposure to future risks and uncertainties that may influence the achievement of its objectives.

A good strategic risk report explains risk appetite, risk governance and risk management processes and TUI Travel was praised for being “comprehensive and articulate, accessible and intelligible,” and having “a real sensitivity to its future in its grasp of strategic risk.”

The competition included companies within the FTSE100 and the larger-cap FTSE 250 businesses with annual reports for years ending between Jan. 1, 2012 and Dec. 31, 2012. TUI Travel was up against a short-list of Fresnillo, Marks and Spencer Group and RSA Insurance Group.