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Book part
Publication date: 28 July 2014

Tineke Lambooy, Rosemarie Hordijk and Willem Bijveld

The authors have examined the developments in law and in practice concerning integrated reporting. An integrated report combines the most material elements of information…

Abstract

Purpose

The authors have examined the developments in law and in practice concerning integrated reporting. An integrated report combines the most material elements of information about corporate performance (re: financial, governance, social and environmental functioning) – currently reported in separate reports – into one coherent whole. The authors first explore the motivation of companies and legislators to introduce integrating reporting. Next, they analyse how integrated reporting can be supported by legislation thereby taking into account the existing regulatory environment.

Methodology/approach

Literature study; desk research, analysing integrated reports; organisation of an international academic conference (30 May 2012 in Rotterdam, the Netherlands).

Findings

EU law needs adjusting in the field of corporate annual reporting. Although integrated reporting is currently being explored by some frontrunners of the business community and is being encouraged by investors, the existing legal framework does not offer any incentive, nor is uniformity and credibility in the reporting of non-financial information stimulated. The law gives scant guidance to companies to that end. The authors argue that amending the mandatory EU framework can support the comparability and reliability of the corporate information. Moreover, a clear and sound EU framework on integrated corporate reporting will assist international companies in their reporting. Presently, companies have to comply with various regulations at an EU and a national level, which do not enhance a holistic view in corporate reporting. The authors provide options on how to do this. They suggest combining EU mandatory corporate reporting rules with the private regulatory reporting regime developed by the Global Reporting Initiative (GRI).

Research limitations/implications

Focus on EU and Dutch corporate reporting laws, non-legislative frameworks, and corporate practices of frontrunners.

Practical and social implications and originality/value of the chapter

The chapter can provide guidance to policymakers, companies and other stakeholders who want to form an opinion on how to legally support integrated reporting. It addresses important questions, especially concerning how European and domestic legislation could be adjusted in order to (i) reflect the newest insights regarding corporate transparency and (ii) become an adequate framework for companies with added benefits for financiers and investors. Moreover, it reports on the benefits of integrated reporting for reporting companies. The authors argue that integrated reporting can be a critical tool in implementing corporate social responsibility (CSR) in the main corporate strategy of a company.

Details

Communicating Corporate Social Responsibility: Perspectives and Practice
Type: Book
ISBN: 978-1-78350-796-2

Keywords

Book part
Publication date: 12 March 2020

Sergio Paternostro

There are still many different theoretical approaches and practical interpretations about what an integrated report is. Starting from this premise, the overall purpose of…

Abstract

There are still many different theoretical approaches and practical interpretations about what an integrated report is. Starting from this premise, the overall purpose of this chapter is to critically analyze the relationship between integrated reporting (IR) and social/sustainability disclosure. Indeed, although some scholars considered IR as a tool to improve the sustainability approach of the companies allowing to disclose more relevant social information, others are more critical about the potentiality of IR to improve social disclosure. Therefore, the general research question is: Is there a natural link between IR and social disclosure (true love) or is the IR a practice to “normalize” the social disclosure and accounting (forced marriage)?

In the attempt to provide a preliminary answer to the research question, the chapter analyzes what is the approach of three categories: (1) academics; (2) soft-regulators; and (3) companies. From the methodological point of view, a mixed method of analysis has been adopted.

From the analysis of the three different points of view, IR can be considered as a “contested concept” because of the heterogeneous and sometimes conflicting interpretations and implementation that are done on this type of report. This leads to relevant theoretical and practical implications.

Details

Non-Financial Disclosure and Integrated Reporting: Practices and Critical Issues
Type: Book
ISBN: 978-1-83867-964-4

Keywords

Abstract

Details

Mandatory and Discretional Non-financial Disclosure after the European Directive 2014/95/EU
Type: Book
ISBN: 978-1-83982-504-0

Book part
Publication date: 28 June 2016

Belverd E. Needles, Mark L. Frigo, Marian Powers and Anton Shigaev

Prior research shows that companies that achieve high performance excel at certain financial objectives. This chapter addresses the question: Do companies that excel at…

Abstract

Purpose

Prior research shows that companies that achieve high performance excel at certain financial objectives. This chapter addresses the question: Do companies that excel at these financial performance objectives also excel in integrated reporting and sustainability reporting?

Methodology/approach

We compare a sample of high performance companies (HPC) with a sample of companies that purport to support integrated reporting, and a sample that purport to support sustainability reporting. Our hypotheses are that HPC will equal or exceed the integrated reporting and sustainability reporting practices shown by International Integrated Reporting Committee (IIRC) and Global Reporting Initiative (GRI) companies and US companies will be less at these practices than non-US companies.

Findings

Our findings indicate that IIRC companies and GRI companies generally do not meet the high financial performance measures of the HPC. Based on an integrated reporting and sustainability reporting matrix, we show that HPC exhibit equal performance on the practices of sustainability and integrated reporting compared to GRI companies, but both HPC and GRI are lower on these practices than IIRC companies. Also, US companies disclose less information in sustainability reports and integrated reports as compared to non-US companies. Overall, all three groups fall short of full compliance with standards of integrated reporting and sustainability reporting.

Originality/value

This chapter provides evidence as to the financial performance and the current state of integrated reporting and sustainability reporting among HPC, GRI, and IIRC companies. This chapter highlights the global need for a generally accepted set of standards for sustainability and integrated reporting practices.

Details

Performance Measurement and Management Control: Contemporary Issues
Type: Book
ISBN: 978-1-78560-915-2

Keywords

Book part
Publication date: 14 November 2022

Neelam Setia, Subhash Abhayawansa and Mahesh Joshi

The diffusion of integrated reporting as a practice has stimulated an academic debate about whether integrated reporting has the potential to advance sustainability. The…

Abstract

The diffusion of integrated reporting as a practice has stimulated an academic debate about whether integrated reporting has the potential to advance sustainability. The International Integrated Reporting Framework, which guides the preparation of integrated reports, focuses specifically on providers of financial capital and does not refer explicitly to sustainability in a significant way. But there is evidence that integrated reporting has enhanced the provision of sustainability disclosures. This chapter scrutinizes academic research on integrated reporting, focusing on sustainability published from 2010 to 2021. First, we synthesize arguments about aspects of integrated reporting that inhibit the advancement of sustainability as well as those that help advance sustainability. Then we explain a two-pronged approach for improving the sustainability orientation of any future connected reporting framework. The first one relates to building on the current strengths of integrated reporting for advancing sustainability. The second approach concerns tackling the obstacles to promoting sustainability through integrated reporting identified in the literature. This chapter also provides important insights for future research in the field.

Book part
Publication date: 3 September 2018

Ioana-Maria Dragu

This chapter investigates how integrated reporting (IR) can contribute to a better corporate social responsibility (CSR) implementation through diffusion and adoption of…

Abstract

This chapter investigates how integrated reporting (IR) can contribute to a better corporate social responsibility (CSR) implementation through diffusion and adoption of CSR practices and actually applying the CSR discourse. Based on innovation diffusion theory, we intend to analyse the diffusion and adoption of CSR on the grounds of IR. The purpose of this study is to demonstrate that IR does indeed represent a mean of reducing the gaps between CSR discourse and its implementation. In order to select the most relevant papers in the area of CSR and IR, we applied the method of positive research. Therefore, the review of literature was made by analysing various theoretical and empirical studies. Setting the main coordinates for CSR and IR through theoretical background, we continue with an empirical analysis on 23 companies that voluntarily publish integrated reports. We intend to demonstrate that IR encourages a diffusion of CSR practices, as companies become more interested in their CSR behaviour.

Details

Redefining Corporate Social Responsibility
Type: Book
ISBN: 978-1-78756-162-5

Keywords

Book part
Publication date: 21 May 2021

Seval Kardes Selimoglu and Gul Yesilcelebi

Purpose: The aim of this study is to reveal the opinions of the auditors, academicians, and institutions that published integrated reports regarding the development and…

Abstract

Purpose: The aim of this study is to reveal the opinions of the auditors, academicians, and institutions that published integrated reports regarding the development and execution of the assurance process of integrated reports.

Design/methodology/approach: For this purpose, interviews were conducted using qualitative research technique to determine awareness about integrated reporting and combined assurance. Within the scope of the research, semi-structured interviews were conducted with six auditors, five academicians, and five workers in institutions that published integrated reports. Qualitative data analysis method was used to analyze the data.

Findings: As a result of the research, combined assurance process criteria were proposed in the integrated reports which in line with the opinions of the participants.

Originality/value: Institutions around the world are increasingly publishing integrated reports. However, when institutions publish integrated reports, there is no clear standard or any guidance on how to ensure the reliability of these reports. It is seen that AA1000, ISAE3000, GRI Standards, and some local standards are used to provide assurance. At this point, the combined assurance model can be used for the reliability of the information in the integrated reports. Integrated reporting and combined assurance are still relatively new concepts in Turkey. Furthermore, this study is important in terms of the lack of studies on how to provide combined assurance for integrated report when scanned related literature in Turkey. Although readily integrated reporting continued in Turkey, it continues to be an area of application is still under development. In particular, the research reflects the level of integrated reporting awareness and how to ensure assurance of these reports.

Details

New Challenges for Future Sustainability and Wellbeing
Type: Book
ISBN: 978-1-80043-969-6

Keywords

Book part
Publication date: 14 December 2016

Arzu Özsözgün Çalışkan and Emel Esen

Climate change is one of the most major risks facing today’s companies. Evaluating the climate change risks and opportunities which are related to a company’s operations…

Abstract

Purpose

Climate change is one of the most major risks facing today’s companies. Evaluating the climate change risks and opportunities which are related to a company’s operations is important for both the companies and their stakeholders’ sustainability, as a whole. Thereby, from theoretical perspectives, the primary objective of the chapter is to illustrate the role of integrated reporting for business in climate change and the management of the risks and opportunities associated with climate change.

Design/methodology/approach

An extensive literature research is conducted in order to understand the relationship between integrated reporting and business role in climate change and also the role of reports in managing the risks and opportunities associated with climate change.

Findings

A company that successfully addresses the way in which it affects and is affected by climate change could manage its risk properly and also provide a positive contribution to the creation of more sustainable world and governments’ climate change goals.

Research limitations/implications

The research is a theoretical study; for further studies, empirical studies can be conducted to understand the role of integrated reporting to manage the risks and opportunities associated with climate change.

Practical implications

This study may be useful for managers and governmental agencies in realizing the role between integrated reporting and its contribution to being a sustainable firm and in managing effects of climate change.

Originality/value

There is lack of studies that analyze the role of integrated reporting and the managing of risks and opportunities associated with the climate change. Examining the issue will add value to the literature in this area.

Details

Climate Change and the 2030 Corporate Agenda for Sustainable Development
Type: Book
ISBN: 978-1-78635-819-6

Keywords

Article
Publication date: 24 December 2021

Caroline M. Bridges, Julie A. Harrison and David C. Hay

The initial rationale for developing integrated reporting included addressing the failures of traditional reporting to address sustainability issues. Subsequently, the…

Abstract

Purpose

The initial rationale for developing integrated reporting included addressing the failures of traditional reporting to address sustainability issues. Subsequently, the International Integrated Reporting Council (IIRC) modified its stated objectives to emphasise integrated thinking and value creation. There has been debate on whether the IIRC’s process for developing its integrated reporting framework was subject to regulatory capture by the accounting profession (Flower, 2015; Adams, 2015; Thomson, 2015). This paper aims to provide additional evidence on the extent to which this regulatory capture occurred, with an update on current developments.

Design/methodology/approach

Data from interviews with key participants in the integrated reporting framework’s development and the IIRC’s Council and Working Group meeting minutes were analysed to identify to what extent the change in the IIRC’s focus can be explained by regulatory capture theory.

Findings

The findings show that the integrated reporting framework’s development was subject to regulatory capture by accountants. However, the extent of capture was mitigated to some extent by processes adopted in its development. This is consistent with regulatory capture theory.

Originality/value

This paper critically examines the debate on the extent to which the sustainability message has been lost as a result of regulatory capture. It provides an in-depth analysis of the IIRC’s treatment of sustainability which explores the application of regulatory capture theory and examines evidence not considered in previous studies.

Details

Meditari Accountancy Research, vol. 30 no. 3
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 11 October 2021

Barry Ackers and Adeyemi Adebayo

This paper aims to establish the extent to which South African state-owned entities (SOEs), where integrated reporting is a quasi-mandatory reporting requirement, have…

Abstract

Purpose

This paper aims to establish the extent to which South African state-owned entities (SOEs), where integrated reporting is a quasi-mandatory reporting requirement, have incorporated the principles of the international integrated reporting framework. These identified South African SOE reporting practices are compared with the ‘integrated reporting’ related disclosures of SOEs in selected countries, where integrated reporting remains voluntary.

Design/methodology/approach

This paper deploys a qualitative research approach, to thematically analyse the content of publicly available annual or integrated reports of South Africa SOEs, as the primary country of analysis, with those of their counterparts in five purposively selected countries. The relative scores for the SOEs of each country is calculated using a disclosure index derived from the international integrated reporting framework principles.

Findings

The paper found that despite being a quasi-mandatory reporting requirement, not all South African SOEs complied with all the international integrated reporting framework principles. Accepting the assertion that integrated reporting enhances organisational transparency and accountability, the accountability disclosure practices of South African SOEs appear more comprehensive than their counterparts in other countries.

Originality/value

Extant research into integrated reporting has primarily focussed on the profit-seeking private sector, with limited research into its applicability in the public sector. This paper attempts to address this paucity by examining aspects of integrated reporting by South African SOEs, which are then compared to accountability reporting practices in other countries.

Details

Social Responsibility Journal, vol. 18 no. 8
Type: Research Article
ISSN: 1747-1117

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