If there is one thing we have learned from the current economic crisis, this is that the world, markets, and companies are complex and inter-related realities. Rumours and speculation among stakeholders are all around us, and cold economic figures - on which all decisions have been based in the past – are proving to be inadequate.
How can we respond to this changing, globalised world, with static, fragmented information which fails to reflect all the essential factors?
Current financial reporting mechanisms, instead of identifying key data and offering a fuller and more profound view of the risks and opportunities facing a company, provide us with isolated information based on historical data which on occasions is far from being a strategic factor for the organization. The information on non-financial aspects is offered in fragmented form in specific CSR or sustainability reports or is included in the company’s annual report.
How can we gain the trust of interest groups when the information we include in our reports neither connects up to, nor prioritizes, our strategy?
On 12 September 2011, the International Integrated Reporting Council (IIRC) presented its highly anticipated discussion paper, which summarises the current consensus on reporting in the future, and invites investors, companies and other interest groups to reflect upon and discuss this area.
Now is the time to spearhead an innovative change in your company’s current financial and non-financial reporting model. If your company is committed to the long term, there is no alternative: this is the way forward.
At PwC we have developed a methodology which will enable you to produce an integrated and innovative report:
The result will be a report which fits your organization perfectly, with a logical structure which responds to the information needs of the different interest groups, and reflects clearly and concisely the capacity to create and maintain value in the short, medium and long terms.
It will also highlight your organisation’s current and future performance; in short, the integrated report will be a strategic factor in the decision-making process.