Integrated Reporting And An Understanding Of A Company 's Performance

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Integrated Reporting is a more holistic approach to gaining an understanding of a company’s performance. It takes into consideration factors including the environment, society and governance when evaluating a company’s performance and strategizing on a future course of action. One of the most recent and promising developments in Integrated Reporting has been the release of the Integrated International Reporting Framework by the International Integrated Reporting Council. This paper assesses the opportunities, benefits, challenges and limitations of this framework.
Introduction
The Integrated International Reporting Framework was introduced by the International Integrated Reporting Council (IIRC) to guide the entire integrated reporting process and also to clearly define key ideas and concepts of this framework. Given some of the confusion surrounding this framework among companies and accountants in New Zealand with respect to what precisely the Integrated <IR> Framework is and how it might affect accounting practice, this essay purports to clearly explain the framework. Further, this paper will also critically examine the framework, highlighting some of the salient opportunities, benefits, challenges and limitations of this approach. Finally, it will briefly reflect upon the implication of the framework for accounting practice.
Literature Review
Overview of integrated reporting An integrated Report is defined as “a concise communication about how an organisation’s

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