Region field to be moved to Account object only

We have had issues trying to keep Region field values consistent across all objects (Acccount, Opportunity, Activity).

 It is primarily entered manually in Account record.  Currently to update a change in Region in other objects, users have to re-embed a related field (Company) in that object which will bring up the current Region value and update it also.

Therefore, it has been proposed to suppress Region field in the other objects and only confine it to Account. 

We create our reports pulling in values from Activity object.  Region is currently a critical part of these reports.  If Region is pulled out of Acitivity and can only be found in Account, would there be any adverse impact on reporting (we expect to create new reports after change)?