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Recommendations on Australian moves towards integrated and sustainability reporting

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06 Jul 2011

CPA Australia, one of the professional accounting organisations in Australia, has released a report entitled The Social Responsibility of Corporations – Recent trends and future developments in the promotion of responsible business practices.

The report contains a number of recommendations in response to The social responsibility of corporations report by the Corporations and Markets Advisory Committee (CAMAC, a body constituted under the Australian Securities and Investments Commission Act 2001). The CPA Australia report provides views in light of developments since the issue of the CAMAC report in December 2006, and suggests a number of actions that should be considered in the areas of disclosure and promotion of responsible business practices.

Many of the recommendations relate to integrated and sustainability reporting, including that the Australian Government should actively pursue developments in integrated reporting and that appropriate funding be provided to the Australian Accounting Standards Board (AASB) to pursue this major development in the national interest.

More details on the recommendations are available on our Sustainability page.

The Australian Financial Reporting Council (FRC) has recently formed a taskforce on integrated reporting and the matter is also expected to be discussed at the July 2011 AASB meeting. Click for access to the CPA Australia report (link to CPA Australia website).

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