The economic crisis was a sharp reminder that financial reporting alone cannot provide sufficient insight into business performance and resilience Investors - and other stakeholders - are looking for a more holistic picture of how organisations create value and of the external drivers that impact their business model now and in the medium to long term.
So, can you answer their questions? Do you have the necessary data and is it reliable? How do you know that your business can deliver on its strategic aims?
To be able to respond to these investor and other stakeholder challenges some companies are starting to take a more ‘integrated’ approach to their internal and external reporting Companies are also beginning to see the internal benefits of a new way of ‘integrated thinking’. Our recent survey of over 1300 global CEOs showed 74% of CEOs think that measuring and reporting total non-financial impacts contributes to long term success.
The International Integrated Reporting Council’s (IIRC) Framework (Framework) was issued in December 2013 and provides companies with a starting point for driving integrated thinking and reporting in an integrated way. Our PwC experts have been working with the IIRC in a number of ways including supporting the technical development of the Framework through its working group and partnering with the IIRC on practical implementation initiatives for business through its Pilot Programme.
See some of the resources below that can help you think about what steps might be relevant for your organisation. Call us to find out more about practical ideas for implementation and how moving towards a more integrated reporting approach can give you a competitive edge and help build trust in your company.