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Integrated Reporting

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The world we live in today consists of multiple dimensions. A sustainable society requires the majority of its companies to have sustainable strategies and a variety of resources and relationships is necessary in order to completely understand the impact and the value creation of an organization. That is why, it is fundamental to analyse financial, non-financial and sustainability information together with other considerations.
However, the companies’ ability to create value cannot be easily reported. Even though organizations are publishing a growing number of increasingly extensive reports, the information provided in them is disconnected and it derives from different departments within the organization. Additionally, in many industries intangible …show more content…

The concept of IR was firstly introduced in South Africa in 2009 through King III, the code of corporate governance. The Johannesburg Stock Exchange adopted King III, and all listed companies are now required to ―apply or explain the King III principles, of which integrated reporting is one. The recognition that non-financial information is equally important to investors and analysts gave rise to the concept of integrated reporting (IR), which is reporting on both financial and nonfinancial information in one report. In addition, the financial crisis played an important role in the establishment of the International Integrated Reporting Council (IIRC) and the development of Integrated Reporting. It was an effort to return to financial stability and make capital markets trustworthy again and able to serve the real …show more content…

Enhance accountability and stewardship for the broad base of capitals (financial, manufactured, intellectual, human, social and relationship, and natural) and promote understanding of their interdependencies.
• Support integrated thinking, decision-making and actions that focus on the creation of value over the short, medium and long term
Integrated reporting had done its impact so far. In a relatively short timeframe, it has significantly changed the corporate reporting landscape; its impact is not just limited to the reporting landscape. Integrated thinking is defined in the Framework as: The active consideration by an organization of the relationships between its various operating and functional units and the capitals that the organization uses or affects. Integrated Thinking leads to integrated decision making and actions that consider the creation of value over the short, medium and long term. (IIRC pg2)

The IR consists of the following

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