Following on from the existential "why are we doing this" question, the obvious next thing to ask is "how will we know if we have done it well". As a minimum, you should expect to hear quantitative targets such as adherence to budget and on-time publication, but equally, qualitative targets about the process of reporting should not be overlooked. Does your SRM intend to get feedback on the process of developing the report? Did your SRM run an effective Reporting Steering Team in which people have had the opportunity to influence? If your report is the single-handed work of your SRM and a consultant, you can bet there's something essential missing.