Integrated reporting goes live among blue chips

Accountants could be asked to sign off financial reports on companies’ social, environmental and human capital under a proposal for integrated reporting that could change the way businesses report on their activities.

The International Integrated Reporting Council has published a draft reporting framework for consultation. The framework, which is being tested by more than 80 global companies including Unilever, Coca Cola, Tata and HSBC, is intended to give investors and shareholders a broader picture of how companies make their money and their prospects in the short, medium and long term.

Supporters of the new approach argue...

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Comments
Paul Scholes's picture

And so it goes on.......& on & on    1 thanks

Paul Scholes | | Permalink

20 years of talking, moving and re-sizing the posts for numerous goal mouths and we have yet another draft framework for less than 1% of the companies on the planet.

If only they had stuck to environmental damage & sustainability, the bandwagon is now too large.

Here are more words from two & a half years ago following a similar piece on the formation of the IIRC.

A framework for this stuff is as effective as sand castles & moats you build with your kids to keep the sea off the sandwiches.

Providing a framework gives organisatons something to hide behind.  You educate young people in the rights & wrongs of behaviour in a society and send them out there to do it, you shouldn't expect them to come home every night and write a report (whether within a framework or not) as to how they have met your expectations and principles of behaviour.

The time, energy and breath should be going into educating business people in the principles of CSR, CSV, sustainability and business ethics, then letting them get on with actually DOING something.

Triple Bottom Line reporting    1 thanks

Jdopus | | Permalink

Triple Bottom Line reporting as it exists in its current state is absolutely worthless.  With no legislation and only optional guidelines around how businesses choose to report it's nothing but a glorified PR stunt where we can selectively report upon only the positive impacts a firm is having on social, environmental or human capital grounds.  That's without even touching upon the fact that it's outright foolish to even pretend a "Bottom line" for something as complex, subjective and contextual as social impact exists.