The corporate reporting has changed in the last decades from traditional corporate reporting through financial statements,...

 

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The corporate reporting has changed in the last decades from traditional corporate reporting through financial statements, to various types of reporting relating to environmental, social and governance such as sustainability reporting and to the integration of financial and non-financial information, including value creation within an integrated reporting (IR). IR provides greater context for performance data, clarifies how sustainability fits into operations or a business, and may help embed sustainability into company decision making. IR results in a broader explanation of performance than traditional reporting. The International Integrated Reporting Framework (IR Framework) was first launched in December 2013 and the recent IR Framework January 2021 was developed with the objective to guide organizations on communicating the broad set of information needed by investors and other stakeholders to assess the organization's long-term prospects in a clear, concise, connected and comparable format. REQUIRED: a) Materiality is an important guiding principle in the IR framework, identify how does an organization determine what matters to include in the integrated report. You are required to refer to at least a published integrated report to study on the materiality determination process, summarize and to include as part of your answer. The corporate reporting has changed in the last decades from traditional corporate reporting through financial statements, to various types of reporting relating to environmental, social and governance such as sustainability reporting and to the integration of financial and non-financial information, including value creation within an integrated reporting (IR). IR provides greater context for performance data, clarifies how sustainability fits into operations or a business, and may help embed sustainability into company decision making. IR results in a broader explanation of performance than traditional reporting. The International Integrated Reporting Framework (IR Framework) was first launched in December 2013 and the recent IR Framework January 2021 was developed with the objective to guide organizations on communicating the broad set of information needed by investors and other stakeholders to assess the organization's long-term prospects in a clear, concise, connected and comparable format. REQUIRED: a) Materiality is an important guiding principle in the IR framework, identify how does an organization determine what matters to include in the integrated report. You are required to refer to at least a published integrated report to study on the materiality determination process, summarize and to include as part of your answer.

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Materiality means material transaction which can effect on total financial position of organi... View the full answer