QUESTION

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 provide a detailed insight into the resources and the relationships that affect corporations in creating value in the short, medium and long term. The cycle of integrated thinking and reporting, resulting in efficient and productive capital allocation, will act as a force for financial stability and sustainable development. More and more companies around the world are embracing the concepts of integrated thinking and reporting because they fully understand the wider benefits, even more so amid the current pandemic and the growing need for more transparency in reporting.

It will give a wider and more holistic story in an annual report.

REQUIRED:

Prepare a report to the companys Board of Directors to propose on implementing Integrated Reporting (IR) for your company. The report should cover on the following areas: -

1. Introduction to IR;
2. The key content elements of an integrated report;
3. The benefits on implementing IR that can bring to your organisation; and
4. The potential implementation challenges in embarking on the IR journey.