IT
Integrated Reporting:
developing a local
standard
While Integrated Reporting is a legal requirement for all JSE-listed
companies in South Africa, today’s business environment demands more
transparency and good governance from all companies. Integrated Reporting
combines financial and non-financial information, such as environmental,
social as well as corporate governance into one consolidated report.
Professor Mervyn King, Chairman of the International Integrated Reporting Council: ‘This is a journey
that we are all embarking on together.’
T
his is driven largely by the King III report, a globally
accepted business reporting framework which states
that “governance, strategy and sustainability are
inseparable”. The benefits to organisations that embark
on Integrated Reporting initiatives are enormous, the
reports provide overall clarity. This allows stakeholders to relate
sustainability risks and choices of their certain business endeavours
to the financial compromises an organisation has to make to uphold
momentum in the marketplace. Intelligent decisions can then be
made based on information that has been validated based on the
expectations among stakeholders and the company as a whole.
But therein lies the rub. Any financial executive tasked with
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