Transition to Integrated Reporting
On 20 September 2021, the Value Reporting Foundation published ‘Transition to integrated reporting: A Guide to getting started’ (‘the Guide’) to help report preparers develop a custom-fit transition plan to integrated reporting. The Guide is a companion to the
The Guide explores the basics of integrated reporting, identifies potential catalysts for change and offers a stepping-stone approach to implementation. A sample roadmap is provided in the Guide to help report preparers navigate their own unique circumstances, prompt ideas and support the design of their tailored integrated report. It comprises the following stages:
Establishing a plan;
Identifying information needs;
Assessing systems and controls;
Preparing report content; and
Improving the process.
Cora Olsen, Director of Sustainability & Regeneration, Better Energy and <IR> Framework Board Member, said:
“Focus on making sure that disclosure you report on that is not directly financial also becomes part of the data quality process, because it is absolutely fundamental and investors also rely on this information. Also, push for continuous improvement. One of the things that some find frustrating in the integrated reporting space, but also one of the things that excites me, is that we’re never actually done. The world and organizations are continuously changing, so there’s always room for improvement and it is important that we as raconteurs push the reporting at the company and the stakeholder communications forward in this whole conversation to make progress over time – be patient and relentless!”
Michael Gebbert, Transformation Accounting and Taxes, EnBW and <IR> Framework Board Member, added:
“Close collaborations between functional and business units is the key to transparent, meaningful and comprehensive integrated reporting. For our company both internal and external added value arises from the interaction of these units.”
Lisa French, Chief Technical Officer – <IR> Framework, Value Reporting Foundation, said:
“We are pleased to publish the ‘Transition to integrated reporting: A guide to getting started’, which not only introduces the basics of integrated reporting to those setting out on their journey, but also converts high-level concepts into concrete action. Drawing from the rich insights and experience of those who have applied the International <IR> Framework over eight years, the guide also appeals to businesses seeking to improve their current approach to integrated reporting.
“Now more than ever, integrated reporting is important as we face the unprecedented risks posed by climate change and the global pandemic. As capital markets increasingly demand disclosure on intangible assets, more organizations are turning to the <IR> Framework to strengthen their reporting. By communicating how strategy, governance, performance and prospects create, preserve or erode value over time, businesses are enabling better decision making and delivering more complete and concise information to investors and key stakeholders.”
Published 30 September, 2021