A Directors' Guide to Integrated Reporting
Telling it like it is
Ironically, integrated reporting is not really about reporting at all. It’s about integrated thinking, responsible business behaviours and innovation
Not everything that counts, can be counted, and not everything that can be counted, counts
In December 2013 the International Integrated Reporting Council published the International Integrated Reporting Framework (“the <IR> framework”). This framework is voluntary in the majority of international markets, and in Namibia forms part of the Namcode.
The <IR> framework is designed to enable the writing of reports that meet the needs of investors. The principles underpinning the framework are in strong alignment with the Global Reporting Initiative’s G4 reporting guidance, and it is encouraged that organisations continue to use the G4 guidance to shape the non-financial information to be included in the Integrated Report (just as financial standards guide what financial information is required to be reported).
It is important for Directors to note that the framework assigns very clear and public responsibility to the Board as explained under the first section below.
The overriding question remains whether the Integrated Report explains how the organisation has in the past and plans to create and sustain value into the short, medium and longer term.
The framework includes guiding principles and content elements, all of which needs to be appropriately addressed in order for the organisation to call its report an Integrated Report. This guide has been prepared to assist Board and Audit Committee members in their review of the Integrated Report and is drafted in a question and answer manner to allow for ease of reference.