Please Wait! Your file will start to download within 10 seconds automatically. Otherwise click here Download

Integrated Reporting at the Crossroads: Will it Become Trendsetter Model for the Corporate Reporting


Dr. Madan Lal Bhasin ,

Download Full PDF Pages: 35-59 | Views: 379 | Downloads: 109 | DOI: 10.5281/zenodo.3468902

Volume 6 - February 2017 (02)


The landscape of corporate reporting is changing quickly. The concepts, elements and principles that characterize the way organizations plan, manage and report their annual performances are currently being questioned, debated, and redesigned throughout the world. However, widening the scope of corporate performance and reporting is a major issue. Interest in and adoption of IR regarding a company’s financial, environmental, social, and governance performance is growing rapidly. Research needs to bridge the gap between social and financial performance by considering corporate performance in a wider perspective. At base, IR is a relatively new but powerful idea: enhancing the way organizations think, plan and report the story of their business. Organizations are using IR to communicate a clear, concise, integrated story that explains how all of their resources are creating value. IR is helping businesses to think holistically about their strategy and plans, make informed decisions and manage key risks to build investor and stakeholder confidence and improve future performance. It is shaped by a diverse coalition including business leaders and investors to drive a global evolution in corporate reporting. This paper examines the rise of what has been widely claimed to represent a new and striking future for corporate reporting, namely the notion of 'Integrated Reporting' (IR). Unfortunately, there is poor empirical research work undertaken which has focused on published integrated reports. This research study provides initial analysis of the content and structure of the corporate integrated reports published in 2013 and available on the International Integrated Reporting Council (IIRC) Emerging Examples Database. As part of this study, Integrated Reports were analyzed for company information, report information and report content. Moreover, they were also evaluated as to the extent these adhered to the integrated reporting (IR) Guiding Principles, Content Elements, and the multiple capitals model. Findings of this study indicate that “early integrated reports were mostly lengthy, fail to adhere to all the guiding principles, and covered four of the six capitals suggested.” At present, no universally accepted global framework for IR exists and it is still largely a voluntary practice. We believe that IR of both financial and nonfinancial performance should be made mandatory, and it should become a universal practice for all the global listed companies within the next 5-10 years. 


Integrated Reporting, trendsetter model, corporate reporting, IIRC, reporting framework, guiding principles, content elements, multiple capitals models.


  1. Abdolmohammadi, M., Simnett, R., Thibodeau, J.C. and Wright, A.M. (2006), Sell-side Analysts Reports and the Current External Reporting Model, Accounting Horizons, 20: 375–89.
  2. Abeysekera, I. (2013), A Template for Integrated Reporting, Journal of Intellectual Capital, 14 (2): 227–45.
  3. ACCA and Eurosif (2013), What do investors expect from non-financial reporting?, June.
  4. ACCA (2012), Re-assessing the Value of Corporate Reporting,
  5. ACCA (2013), Understanding Investors: Directions for Corporate Reporting
  6. Adams, C. A. (2015), The International Integrated Reporting Council: A Call to Action, Critical Perspectives on Accounting, 27: 23– 8.
  7. Beyer, A., Cohen, D., Lys, T. and Walther, B. (2010), The Financial Reporting Environment: Review of the Recent Literature, Journal of Accounting and Economics, 50: 296–343.
  8. Bhasin, M.L. (2015), Creative Accounting Practices in the Indian Corporate Sector: An Empirical Study, International Journal of Management Science and Business Research, 4(10), 35-52.
  9. Bhasin, M.L. (2015a), Forensic Accounting: Perspectives and Prospects, The Pakistan Accountant, Oct.-Dec.44-48.
  10. Bhasin, M.L. (2016). Voluntary Reporting of Corporate Governance Information in Annual Reports: An Empirical Study of an Asian Country, International Journal of Management Sciences and Business Research, 5(7), 71-95.
  11. Bhasin, M.L. (2016a). Fraudulent Financial Reporting Practices: Case Study of Satyam Computer Limited. The Journal of Economics, Marketing and Management, 4(3), 12-24.
  12. Bhasin, M.L. (2017), Integrating Corporate Governance and Forensic Accounting: A Study of an Asian Country, International Journal of Management Sciences and Business Research, 6(1), 31-52.
  13. Brown, J. and Dillard, J. (2014), Integrated Reporting: On the Need for Broadening Out and Opening Up, Accounting, Auditing & Accountability Journal, 27 (7): 1120–156.
  14. Cascino, S., Clatworthy, M., Garcia Osma, B., Gassen, J., Imam, S. and Jeanjean, T. (2013), The Use of Information by Capital Providers: Academic Literature Review,
  15. Cheng, M., Green, W., Conradie, Konishi, P. and Romi, A. (2014), The International Integrated Reporting Framework: Key Issues and Future Research Opportunities, Journal of International Financial Management & Accounting, 25 (1): 90–120.
  16. Chew Jr., D. H. (2015), A Message from the Editor, Journal of Applied Corporate Finance, 27 (2): 2–3.
  17. Churet, C. and Eccles, R. (2014), Integrated Reporting, Quality of Management, and Financial Performance, Journal of Applied Corporate Finance, 26(1) March.
  18. Cohen, J., Holder-Webb, L., Nath, L. and Wood, D. (2011), Retail Investors‘ Perceptions of the Decision-Usefulness of Economic Performance, Governance and Corporate Social Responsibility Disclosures, Behavioral Research in Accounting, 23: 109–29.
  19. Daniel, R., Hahn, R. and Gurtuk, A. (2017), Integrated Reporting and Assurance of Sustainability Information: An Experimental Study on Professional Investors‘ Information Processing, European Accounting Review, Jan.
  20. Deloitte (2015), Integrated Reporting as a driver for Integrated Thinking? Deloitte-Netherland. Deloitte survey (2015a), Deloitte Maturity Research
  21. de Villiers, C., Rinaldi, L. and Unerman, J. (2014), Integrated Reporting: Insights, Gaps and an Agenda for Future Research, Accounting, Auditing & Accountability Journal, 27 (7), 1042–67.
  22. Director Notes (2011), The Role of the Board in Accelerating the Adoption of Integrated Reporting,
  23. Downes, S. (2015), Integrated Reporting, GAAP Consulting, 1-4.
  24. Druckman, P. and Fries, J. (2010), Integrated Reporting: The Future of Corporate Reporting in Eccles, R.G., Cheng, B. and Saaltzman, D. (eds), The Landscape of Integrated Reporting, (Massachusetts: the President and Fellows of Harvard College), 81–5.
  25. Eccles, R. and Krzus, M. (2010), One Report: Integrated Reporting for a Sustainable Strategy, John Wiley.
  26. Eccles, R. G. and King, M. E. (2010), Integrated reports voluntary filing, Focus, June: 3-6.
  27. Eccles, R, Krzus, M and Ribot, S. (2015), Meaning and Momentum in the Integrated Reporting Movement, Journal of Applied Corporate Finance, 27 (2): 8–17. EFRAG (European Financial Reporting Advisory Group), the Autorité des Normes Comptables (ANC) and the Financial Reporting
  28. Council (2012), Towards a Disclosure Framework for the Notes, discussion paper (Brussels: EFRAG).
  29. EY (2014), Integrated Reporting. Elevating Value,
  30. Flower, J. (2015), The International Integrated Reporting Council: A Story of Failure, Critical Perspectives on Accounting, 27: 1–17. GRI (2013), The Sustainability Content of Integrated Reports–a Survey of Pioneers
  31. Haller, A. and van Staden, C. (2014), The Value Added Statement–An Appropriate Instrument for Integrated Reporting, Accounting, Auditing& Accountability Journal, 27 (7): 1190–216.90
  32. Haji, A.A. and Hossain, D.M. (2016), Exploring the implications of integrated reporting on organizational reporting practice: Evidence from highly regarded integrated reporters, Qualitative Research in Accounting & Management, 13(4), 415–444.
  33. Higgins, C., Stubbs, W. and Love, T. (2014), Walking the Talk(s), Organizational Narratives of Integrated Reporting, Accounting, Auditing & Accountability Journal, 27 (7): 1090–119.
  34. Hoque, M.E. (2017). Why Company Should Adopt Integrated Reporting?, International Journal of Economics and Financial Issues, 7(1), 241-48.
  35. Humphrey, C., O‘Dwyer, B. and Unerman, J. (2015), The Rise of Integrated Reporting: Understanding Attempts to Institutionalize a New Corporate Reporting Framework, paper presented at The British Accounting and Finance Association Conference, Manchester, April.
  36. Paul Hurks, Henk Langendijk and Kavita Nandram (2016), How do current public Integrated Reports align with the Framework? BE JAARGANG Dec. 538-532.
  37. ICAEW (2009), Developments in New Business Reporting Models,
  38. ICAS (2010), Making Corporate Reports Readable (Edinburgh: ICAS).
  39. IIRC (2013a), The International Framework,
  40. IIRC (2013b), Consultation Draft of the International Framework <
  41. IIRC News (2017), IIRC welcomes significant endorsement of Integrated Reporting by IFAC, 11 Jan. Institute of Directors Southern Africa, King Code of governance for South Africa 2009.
  42. Mervyn King, Press Release, Formation of the International Integrated Reporting Committee (IIRC), 2 August 2010.
  43. KPMG (2011), Integrated Reporting. Performance Insight Through Better Business Reporting, Issue 1, MVO Nederland, n.d
  44. KPMG (2012), Integrated Reporting. Performance Insight Through Better Business Reporting, Issue 2,< MVO Nederland, n.d.
  45. Owen, G. (2013), Integrated Reporting: A Review of Developments and their Implications for the Accounting Curriculum, Accounting Education: An International Journal, 22 (4): 340–56.
  46. PwC (2010), Integrated Reporting. What Does Your Reporting Say About You?
  47. Radley Yeldar (2011), The Value of Extra-financial Disclosure: What Investors and Analysts Said (London, UK: Radley Yeldar, GRI and A4S).
  48. Reuter, M. and Messner, M. (2015), Lobbying on the Integrated Reporting Framework, Accounting, Auditing & Accountability Journal, 28 (3): 365–402.
  49. Rowbottom, N. and Locke, J. (2016), The Emergence of , Accounting and Business Research, 46 (1): 83–115
  50. Sakakibara, S., Hansson, B., Yasano, T. and Kozumi, H. (2010), Analysts‘ Perceptions of Intellectual Capital Information, Australian Accounting Review, 54 (20): 274–85.
  51. Serafeim, G. (2015), Integrated Reporting and Investor Clientele, Journal of Applied Corporate Finance, 27(2), 34–51.
  52. Shepherd, N.A. (2017), The importance of Integrated Reporting for internal decision making, 24 Jan. available at http:/www./
  53. Solomon, J. and Maroun, W. (2014), Reporting Pre- and Post-King III: What’s the Difference?
  54. Stewart, L. (2015), Understanding Corporate Performance: Investor Demand for ESG Standards, Executive Summary, Journal of Applied Corporate Finance, 27 (2): 5–6.
  55. Stubbs, W. and Higgins, C. (2014), Integrated Reporting and Internal Mechanisms of Change, Accounting, Auditing & Accountability Journal, 27 (7), 1068–89.
    Stubbs, W., Higgins, C., Milne, M. and Hems, L. (2015), Financial Capital Providers‘ Perceptions of Integrated Reporting, working paper <
  56. Thomson, I. (2015), But Does Sustainability Need Capitalism or an Integrated Report, a Commentary on The International Integrated Reporting Council: Story of Failure by Flower, J., Critical Perspectives on Accounting, 27: 18–22.
  57. UBS (2012), What is Integrated Reporting? Van Bommel, K. (2014), Towards a Legitimate Compromise?, Accounting, Auditing & Accountability Journal, 27 (7): 1157–89.
  58. Wild, S. and Staden, C.V. Integrated Reporting: Initial analysis of early reporters – an Institutional Theory approach,
  59. Yaismir Rivera-Arrubla, Ana Zorio-Grima, María A. García-Benau, (2017) Integrated Reports: Disclosure level and explanatory factors, Social Responsibility Journal, 13(1), 1-25.
  60. Zhou, S., Simnett, R. and Green, W. (2016), Does Integrated Reporting Matter to the Capital Market?, Abacus,

Cite this Article: