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IMA suggests actions to reap the benefits of integrated reporting

  • Integrated Reporting <IR> (old) Image

13 Dec 2013

In a reaction to the release of the International Integrated Reporting <IR> Framework last Monday, the Institute of Management Accountants (IMA) has outlined several actions to transform corporate reporting to better serve the public interest. IMA opines that the goals behind integrated reporting must be defined and that producing an integrated report should not be a goal in itself.

IMA believes that four issues must be addressed to reap the benefits of IR:

    1. The ultimate goal should not be to produce a single, integrated report. Rather, it should be to motivate disclosures that better inform investors and other stakeholders.
    2. Market evidence should be developed by shifting the assessment of the benefits of integrated reporting more towards to "actual value delivery participants" of the value chain among which IMA sees business owners, business managers, CFOs, preparers, investors, and analysts.
    3. A "learning and growth" approach should be taken with tangible step changes such as improving disclosures and motivating more concise and informative financial reports including reporting on intangibles. IMA believes mandatory reporting would have an adverse effect.
    4. Supporting technology such XBRL/structured data standards that could potentially improve the cost/benefit of integrated reporting should be developed.

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