International business gathers in Germany to tackle the reporting challenge
Published on 09 July 2013 0 comments
Integrated reporting has just taken an important step forward as some of the world’s largest businesses gathered in Frankfurt for the International Integrated Reporting Council’s Pilot Programme Conference, which we hosted for them. They considered the results of new research showing what’s clear in today’s reporting and what’s not (see below).
Almost all the 100+ organisations involved are expected to comment on the IIRC’s draft Integrated Reporting Framework before the deadline next week. It’s open for comment to everyone until 15 July.
There was a very definite sense at the conference that big business is excited about ‘integrated reporting’ – they see the benefits for their own organisations as well as their stakeholders and want to make progress with it. But they’re facing some very real practical problems in fulfilling the recommendations of the draft IR framework. Grappling with those challenges, working with investors and business advisors, and sharing their experiences to find workable solutions is what being part of the pilot programme is all about.
How integrated is reporting today?
With those practical challenges in mind, it’s not surprising that our assessment of the gaps between pilot companies’ reporting today against the draft IR framework generated significant interest at the conference. For example, our research showed:
- 83% discuss future market trends...but only 40% of those link market discussion to strategic choices
- 94% include strategic priorities...but just 21% of those base reporting on strategic themes
- 71% identify their key performance measures...but only 17% of those of those align KPIs with their strategic priorities
I’m convinced that moving towards integrated reporting will help meet the growing demands for meaningful transparency and address the record-low levels of public trust. And critically, I think it offers the chance for business to improve internal decision-making processes, to help ensure longer-term survival and in our fast changing world.
If you are from a company looking for more insight from this research or tips on how to move towards integrated reporting, please let me know, or email firstname.lastname@example.org