Research topic: Integrated Reporting in Australia
In December 2016, CPA Australia issued the following report, “AN EXPLORATION OF THE INFORMATION NEEDS OF SELECTED STAKEHOLDERS OF INTEGRATED REPORTING” (CPA, 2016). This report provided a summary of research undertaken which explored the information needs of company stakeholders and their perspectives on integrated reporting (CPA, 2016).
The objectives of the study were: 1. to explore what stakeholders claim they need and expect from an integrated report; 2. to assess the level of alignment between stakeholders’ expectations information needs; and 3. to understand the usefulness of integrated reporting to their decision-making (CPA, 2016).
As explained in the CPA Australia report, the integrated reporting framework was developed by the International Integrated Reporting Council (IIRC). Further information about the IIRC is available from their website.
- With reference to the IIRC website and the relevant accounting literature, explain the role of the the International Integrated Reporting Committee (IIRC)
- With reference to the research findings of the CPA report and the relevant accounting literature, explain the existing and potential roles of integrated reporting with regards to:
- Providing information that is relevant to stakeholders;
- Stakeholder engagement;
- Comparability of reporting;
- Quality of reporting;
- Usefulness of reporting; and
- Users of reporting
- Compare and contrast the findings of the CPA report with the following guiding principles that underpin integrated reporting:
- Stakeholder relationships;
- Reliability and completeness; and
- Consistency and comparability
- Identify and explain the similarities and differences between :
- The definition and objective of the International Framework with the definition and objective of general purpose financial reporting (GPFRs) as contained in the IASB / AASB conceptual framework (IASB CF);
- The identification of the users of an integrated report and the identification of the users of GPFRs;
- The integrated report concept of materiality and the IASB CF concept of materiality; and
- The integrated report concepts of reliability, completeness, consistency and comparability and the IASB CF concepts of reliability, completeness, consistency and comparability
- Compare and contrast the integrated reports of four companies that appear in the examples database of the integrated reporting website with respect to any four of the Guiding Principles as discussed in your answer to part 3
- Discuss the factors that may explain the similarities of differences that you identified in your analysis in part 5.