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The Development of Integrated Reporting and the Role of the Accounting and Auditing Profession

In: Social Audit Regulation

Author

Listed:
  • Dominic S. B. Soh

    (Macquarie University)

  • Philomena Leung

    (Macquarie University)

  • Shane Leong

    (Macquarie University)

Abstract

A recent significant development in environmental, social and governance (ESG) reporting is the release of the International Integrated Reporting ( ) Framework by the International Integrated Reporting Council (IIRC) in December 2013. While there is widespread acknowledgement of the need to improve corporate reporting, a content analysis of the submissions to the IIRC’s discussion paper, consultation draft and exposure documents present varied views of the accounting and auditing profession in respect of how Integrated Reporting IR might effectively apply its principles of reporting connectivity and relationships within organisations. This chapter examines IR and the participation of the accounting and auditing profession during its development, outlining key aspects of the International Framework. It draws on the profession’s responses to discuss challenges for the accounting and auditing profession in maintaining its relevance in the evolving corporate reporting landscape. It concludes that the initial aims and promise of the International Framework have been somewhat diluted during the development process; the application of integrated thinking is crucial in achieving IR’s potential, but there are significant challenges facing the profession particularly in respect to building its capacity and cultivating integrated thinking.

Suggested Citation

  • Dominic S. B. Soh & Philomena Leung & Shane Leong, 2015. "The Development of Integrated Reporting and the Role of the Accounting and Auditing Profession," CSR, Sustainability, Ethics & Governance, in: Mia Mahmudur Rahim & Samuel O. Idowu (ed.), Social Audit Regulation, edition 127, pages 33-57, Springer.
    • Handle: RePEc:spr:csrchp:978-3-319-15838-9_3
    DOI: 10.1007/978-3-319-15838-9_3
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    Citations

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    Cited by:

    1. Patrick Velte & Martin Stawinoga, 2017. "Integrated reporting: The current state of empirical research, limitations and future research implications," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 28(3), pages 275-320, October.
    2. Ruiz-Lozano, Mercedes & Tirado-Valencia, Pilar, 2016. "Do industrial companies respond to the guiding principles of the Integrated Reporting framework? A preliminary study on the first companies joined to the initiative," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 19(2), pages 252-260.
    3. Alberto Incollingo & Michela Bianchi, 2016. "The Connectivity of Information in Integrated Reporting. Empirical Evidence from International Context," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2016(2), pages 55-78.

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