IFAC paper on the contribution of professional accountants to integrated thinking
04 Nov 2015
The International Federation of Accountants (IFAC) has released 'Creating Value with Integrated Thinking: The Role of Professional Accountants'. The paper sets out a vision for integrated thinking and explores what professional accountants working in the public and private sectors can do in practical terms to facilitate it in their organisation, regardless of whether their organisation is planning to publish an integrated report.
The paper builds on the fundamental concepts and principles as captured by the IIRC's International Integrated Reporting Framework issued in December 2013. It explains how a connected approach supports the other four key areas of integrated thinking: an external value focus, integrated planning, effective governance and oversight, and integrated communications. The authors argue that with a broader view of an organisation, the CFO and the finance function can begin to ensure that all aspects involving people, processes, and systems are better connected while a disconnected approach can lead to important drivers of value being omitted from both information provided to management and external reports.
Please click to access the thought paper on the IFAC website.
