PricewaterhouseCoopers (PwC) research on integrated reporting using the International Integrated Reporting Council’s (IIRC) framework shows the need for an evolved information set when it comes to the current model of corporate reporting.
PwC assessed 400 companies across more than 20 industries on aspects of the IIRC framework with a focus on quality of information reported as well as how that information is integrated.
Key findings include:
- Ninety-three percent of companies identify their key risks in reporting.
- Eighty-six percent discuss future market trends, a jump from 60 percent in 2008.
- Sixty-eight percent include some nonfinancial capital priorities in their core strategy.
Earlier this week, the IIRC published its Integrated Reporting Framework, which combines sustainability and financial data to provide a holistic view of the company and its ability to sustain value over the short, medium and long term.
The IR Framework has won praise from the accounting world, which says it will help companies to better explain how they create and sustain corporate value.