Abstract
Integrated Reporting is a process that results in communicating—through the annual integrated report—value creation over time. The purpose of this chapter is to introduce the idea and the logic underpinning Integrated Reporting, shed light on the reasons that enabled the debate on Integrated Reporting to gain relevance over the recent years, and illustrate the features of the Consultation Draft released by the International Integrated Reporting Council on April 2013. In doing so, we focus our attention on a brief review of the fundamental concepts, content elements and guiding principles proposed within the Consultation Draft. We end the chapter with some reflections on the challenges ahead for Integrated Reporting, and on the potential impact of its adoption on the role of the management accounting function.
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Notes
- 1.
The contents of this chapter draw on and extend the article by Busco et al. (2013), “Redefining Corporate Accountability through Integrated Reporting”, in Strategic Finance, n.8, August, pp. 33–41.
- 2.
Visit http://www.theiirc.org/, accessed on 28 June 2013.
- 3.
See, for example, the emergence and recent popularization of concepts such as “Conscious Capitalism” or “Shared Value”.
- 4.
Visit http://www.theiirc.org/about/, accessed on 28 June 2013.
- 5.
A Comprehensive list of Background Papers produced by the Technical Collaboration Groups of the IIRC is included in the references.
- 6.
Visit http://www.theiirc.org/companies-and-investors/, accessed on 30 July 2013.
- 7.
Visit http://www.theiirc.org/resources-2/other-publications/emerging-integrated-reporting-database/, accessed on 30 July 2013.
- 8.
The CD refers to “capitals” instead of “capital,” so we continue that use here.
- 9.
See the IIRC report (2013b) “Business Model—Background Paper for IR” for a review on this concept.
- 10.
See Frigo and Ramaswamy (2009), pp. 3–11.
- 11.
See Frigo and Ramaswamy (2009), p. 7.
- 12.
See the IIRC report (2013c), “Materiality Background Paper for IR” for a review on this concept.
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Busco, C., Frigo, M.L., Quattrone, P., Riccaboni, A. (2013). Towards Integrated Reporting: Concepts, Elements and Principles. In: Busco, C., Frigo, M., Riccaboni, A., Quattrone, P. (eds) Integrated Reporting. Springer, Cham. https://doi.org/10.1007/978-3-319-02168-3_1
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