Integrated Reporting And Its Key Concepts And Guiding Principles Essay

1980 Words8 Pages
Title: Integrated Reporting Abstract Integrated reporting (IR) is a major development in a number of sustainability-related accounting initiatives. With IR the focus will be on strategic rather than operational or transactional. The purpose of this essay is to produce insights from the academic journal articles into the rapidly developing field of IR. The essay draws up what IR is and its key concepts and guiding principles. In addition it outlines the apparent opportunities / benefits and challenges / limitations of IR for reporting entities. The essay also outlines the implications it has to the society at large from the adoption of IR by reporting entities. The essay provides reporting organisations and other interested parties with insights into concerns and characteristics of IR. . A Introduction An Integrated Report has been defined as “a concise communication about how an organization’s strategy, governance, performance and prospects, in the context of its external environment, lead to the creation of value in the short, medium and long term” (IIRC, 2015). A stated aim of IR is to support integrated thinking and decision-making. IR is a process of collaborating information about financial and non-financial activities of business entity to its stakeholders. It is a source through which the causes of success and failures of business are discovered by the reporting entity. As a result of globalisation there has been rapid growth in the corporate sector like
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