The Importance of Integrated Reports in South Africa

IASB. 2010, "The Conceptual Framework for Financial Reporting" IFRS, pp. A21- A38, viewed 23 April 2014,

The IFRS 8 is an international accounting standard, which requires entity, adopt management method when report operating segments’ financial performance to made the segmental information closer to the internal report of the entity. The IASB has substituted IFRS 8 for IAS 14 and combined the segment report request with the SFAS 131 Disclosure about Segments of an Enterprise and Related information.

It’s vary with the previous reporting method which is strictly financial report or financial including CSR report. It require the full support and commitment from the top management, leverage their power to convey the message of IR adoption to all company personnel. The representative of all the relevant disciplines within the business are the team who in-charged for the integrated reporting process implementation, and also the reporting itself. The key of success to create an integrated reporting process is to ensure that the multi-disciplinary team combines, cooperate and coordinates their

In some nations, such as Nigeria, odious debts have been partly caused by the African leaders and public servants who embezzle borrowed funds and huge overspending budgets. But this is not the case for the apartheid debt; it is unique in the sense that the monies were used to subjugate the people who are expected to pay the debt .

The accounting profession worldwide has longed for the harmonisation of the various accounting codes practised by different countries. A set of international standards has been developed with help from the US, Britain, Ireland and the EU in general. International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the

Integrated reporting seeks to provide insights about the relationship and resources used and affected by an organization. It’s a concise communication about organizations strategy, performance and governance in perspective of its external environment lead to the creation of value. Integrated reporting tends to promote a more cohesive and efficient approach to corporate reporting which aims to improve the quality of information available to providers of financial capital to allow a more efficient and productive allocation of capital.

International Financial Reporting Standards (IFRS) describes a common method or modality by which the financial reporting of different business organizations is carried out. Initially, different countries used to have their distinct and separate standards of financial reporting. Financial reports are possibly obtained from the financial statements of any business organization. A financial statement as principle mode enables a company to present its f0inalncial information to the outsiders who may have the interest of having the knowledge of a company's financial status. They give the position of a company's financial status, comprehensive income statement, cash flow statement, and equity changes statement.

Elsewhere, the introduction of the new IR framework by the IIRC (International Integrated Reporting Council) has been suggested to be a paradigm shift in the way corporations report their activities to stakeholders (Klettner, Clarke & Boersma 2014; Soderstrom 2013). Until now, business reports primarily focused on TBL (Triple-Bottom Line) reporting of economic, social and environmental impacts (Adams 2013). While some corporations have demonstrated a willingness to achieve higher standards of performance in corporate sustainability in line with international frameworks (such as the GRI), rarely do they produce reports which provide information on social and environmental issues to the same extent and quality as that of financial information (Boersma 2013;

Integrated reporting enables organization to use new information to measure performance in all sectors and this enhances understanding on how value is created. Since communicating value creation is one of the key aspects of integrated reporting, organization can now understand how they create or destroy value. According to IIRC (2014), up to 92 per cent of businesses in the pilot project reported better understanding of value creation. Companies that use integrated reported can now understand how non-financial aspects affect financial performance and vice versa.

An intangible asset is an identifiable non-monetary asset without physical substance. (AASB 138, para 8). In order for an asset to be recognised as an intangible asset three main characteristics have to be met namely they are: (i) identifiable, (ii) non-monetary, (iii) without physical substance. An intangible asset can either be separately acquired or internally generated. This report will focus on the accounting treatment of internally generated intangible assets prior to and after the adoption of IFRS.

In the past, there had been heaps of reporting sometimes audits and cash-related reports, then their was integrated reporting that emerged and nowadays lots of organizations are looking towards integrated reporting. Integrated reporting generally handle and maintain the companies throughout the business world. The purpose of integrated reporting is to clearly and rapidly account the business. It indicates the business 's character and what it fixes and how it makes worth. This is additionally related to business’s approach, its plan of action and supreme quality, openings and dangers. The best part of intergrating reporting is how effectively and efficiently an organization can use its capital resources to create value.

The report starts with an introduction by articulating the purpose of the report and an overview of the company profile and a brief situation Analysis (PESTEL, SWOT and Porter’s Five Forces) and provides a brief summary of the Accounting framework and EU legal requirements on the Annual reports and the implications for Accor SA.

Corruption has overrun all aspects of South African culture since the early 1900’s. The government, the police force, and all of the citizens commit acts of corruption on an everyday basis in order to secure contracts, grants, and in order to earn more money. From a business standpoint, as government contracts are given to certain businesses with connections, many other legitimate businesses are driven out of the market, often leading to less than ideal goods. Prices have significantly inflated, as the contracts are not necessarily given to the lowest bidder, which has caused a very chaotic currency in South Africa

Since the IIRC was found in 2010, the settlement of integrated reporting has been considered and confirmed by various committees. With the global development and the coming of information stage, the enterprises are confronting with more different and comprehensive outside environments. The decision-making and corporate thinking need take more outside factors into consideration rather than the financial data from the traditional financial reports. This essay states the main ideas and researches during series of group studies. It will focus on three conversional topics from four factors. On the first part, this essay will explain the core definition of integrated and carding the

Business reporting – In this presentation, I will show how business reporting has done in AIS. Business reporting in AIS is done by campus managers. There are three campuses of AIS that is Auckland, Christchurch and Hastings. The campus manager of Auckland is Vijender Naresh and campus manager of Hastings is Hardeep Singh. They all link with owners for the reporting. The business reporting has