If you’re just setting out on your Integrated Reporting journey, here are some documents that should help get you up to speed.
What is an integrated report?
The Integrated Reporting Framework defines an integrated report as:
An integrated report is a concise communication about how an organization’s strategy, governance, performance and prospects, in the context of its external environment, lead to the creation of value over the short, medium and long term.
To emphasise, it’s a concise but complete report showing how an organization creates, preserves and erodes value in the six capitals it uses and affects over the short, medium and long term.
Global best practice guidance
The global best practice guidance to use for preparing and presenting your integrated report is the Integrated Reporting Framework, which sets out 18 requirements that should be met in the content and format of your report. Note that the latest version of the Framework was released in 2021 and replaced the original version of 2013. Also, today, the name Integrated Reporting Framework is more commonly used over the term International <IR> Framework.
Remember that using the Framework can be applied to suit your country’s local reporting needs and requirements. For instance, in South Africa, this would be the overarching corporate governance code, King IV.
Don’t get confused … here is some history to know on the Framework. It was first developed in 2013 by the International Integrated Reporting Council (IIRC), a global multi-stakeholder coalition, in response to the global financial crisis of 2007/08. The Framework was updated by the IIRC in 2021 and this version is used today by organisations in over 70 countries. In June 2021 the IIRC and the US-based Sustainability Accounting Standards Board (SASB) merged to form the Value Reporting Foundation (VRF). In August 2022, the VRF was merged into the IFRS Foundation, who are the current custodians of the Framework.
Informational Guidance
Read the Information Papers and FAQs listed under “Guidance in South Africa” in our Guidance section.
Useful resources
Our Information Paper Preparing an Integrated Report – A Starter’s Guide (Updated) offers useful hints for preparing your integrated report.
This international information guide was recently re-launched by the IFRS Foundation, Transition to Integrated Reporting – A Guide to Getting Started, and sets out various routes to transitioning to integrated reporting that may be suited to different countries’ needs.
Some other resources (please note that some of these are dated from the inception of integrated reporting in 2012/13)
The publication from the IFC and the Global Corporate Governance Forum “Integrated Reporting: Lessons from the South African Experience” provides insight into what contributes to effective integrated reporting:
What constitutes meaningful integrated reporting is answered in the article by CGF: “Why all organisations should publish a meaningful Integrated Report”
ACCA’s publication titled “Insights into integrated reporting 3.0: The drive for authenticity”
A guided journey into integrated reporting is provided by BDO in “Driving value creation through integrated thinking and reporting”
Guidance from a CFO perspective is offered in this article by Chris Ruggeri, National managing principal at Deloitte transactions and business analytics: “Activism, guidance and purpose: The IR issues on the minds of CFOs“
Guidance from a director’s perspective is offered in this publication by Deloitte: “A Directors’ guide to Integrated Reporting”
The BCG article titled: “Ten Lessons from 20 Years of Value Creation Insights” and the practical how-to-guide by the UK Green Building Council: “Practical how-to guide: Implementing Integrated Reporting“