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Integrated Reporting: It's Streamlined - But Will the Benefits Outstrip the Costs?
In his online report, prominent Australian shareholder activist Stephen
Mayne listed 16 major businesses that were solvent when audited in 2010
but went bust shortly after. No wonder there's widespread
dissatisfaction with traditional annual reports as indicators of an
organisation's true position, shouted business pundits. However, this
may all change next year with a new reporting format designed to meet
the needs of a more sustainable, globalised 21st century world.
"Integrated reporting" combines social, environmental and governance
information with financial reports to tell a concise, coherent story
about an organisation. Roger Simnett, an accounting professor at the
Australian School of Business, who's on the international taskforce
charged with creating a better reporting framework, says the big
challenge in the switch to a more integrated approach is in convincing
companies that its benefits will outweigh the costs.
View all episodes
By theBoxIn his online report, prominent Australian shareholder activist Stephen
Mayne listed 16 major businesses that were solvent when audited in 2010
but went bust shortly after. No wonder there's widespread
dissatisfaction with traditional annual reports as indicators of an
organisation's true position, shouted business pundits. However, this
may all change next year with a new reporting format designed to meet
the needs of a more sustainable, globalised 21st century world.
"Integrated reporting" combines social, environmental and governance
information with financial reports to tell a concise, coherent story
about an organisation. Roger Simnett, an accounting professor at the
Australian School of Business, who's on the international taskforce
charged with creating a better reporting framework, says the big
challenge in the switch to a more integrated approach is in convincing
companies that its benefits will outweigh the costs.
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