Australian forum discusses how integrated reporting can drive good governance

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17 May 2011

CPA Australia and the Institute of Chartered Accountants in Australia, together with the Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC), hosted a forum for local professional accountants in Melbourne, Australia on 13 May 2011. The focus of the forum was on how professional accountants in business can support their organisations to improve governance practices through the integration of financial and non-financial information into their reporting, including a focus on environment, social, and governance (ESG) factors.

The key conclusions of the forum were as follows:

  • Integrated reporting needs to reflect an organisation's strategy and values, as well as how it is managed in social, environmental, and economic dimensions of performance
  • The process of integrated reporting, in turn, is a powerful tool to help drive an organisation's strategic agenda, providing management with key drivers of performance
  • Integrated reporting has to be open and transparent by reflecting both improvements in performance as well as weaknesses
  • Pension fund investors, as well as some other institutional investors, are increasingly looking for financial implications of ESG factors to understand how an organisation's strategy and operations are affecting the numbers and key measures of performance.

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