Integrated Reporting | Assignment

Added on - 01 Mar 2020

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RUNNING HEAD:Integrated reporting1Corporate Reporting
Integrated reporting2Table of ContentsIntroduction......................................................................................................................................3Critically discussion of statement and role of integrated reporting.................................................3Woolworth Integrated reporting......................................................................................................4Conclusion.......................................................................................................................................5References........................................................................................................................................6
Integrated reporting3IntroductionThe integrated report refers to a brief correspondence that represents how organization system,governance, execution and prompt the creation of value over the short, medium and long term.Organizations are using the idea of incorporated reporting to show clear, brief, coordinated datathat portrays how all the resources of the business are creating value. Integrated reportingenables the business to contemplate their systems and plans, settle on educated choices andoversee the key problems to construct financial professionals and investor certainty and enhancefuture performance. Integrated reporting is outlined by a various coalition including businesspioneers and speculators to drive an overall advancement in corporate reporting. The first part ofthe report explains the role of integrated reporting by identifying the problems related to thetraditional financial reporting. The second part describes the Woolworth Company which islisted on the ASX and determines the company is integrated or non-integrated.Critically discussion of statement and role of integrated reportingAccording toWild & van Staden, (2013), a feedback of stand-alone reports related to social andenvironmental exercises is that they demonstrate non-monetary data which is non-incorporatedand categorized. Thus, they are not fit for furnishing stakeholders that are imperative tosuccessfully surveying business execution, technique and potential for future value creation.Integrating reporting is considered as a response to this feedback. The Integrated ReportingCouncil communicates that the standard concentration of incorporating announcing is to giveperformance, methodology and potential for future value creation. Integrated reporting isconsidered as an answer to this criticism. The Integrated Reporting Council expresses that theprinciple focus of integrating reporting is to give the data around an organization's system, plans,administration, performance, and prospects such that will mirror the business, social andecological conditions inside which it works. Integrated reporting additionally goes beyondenvironmental and sustainability reporting. The reason behind this is that integrated reporting isarranged at the future and hopes to get interconnections between the monetary and non-monetaryrelated drivers of execution. Integrated reporting does not need aspiration. The IntegratedReporting Council has assembled a system of organization exploring different avenues regardingintegrated reporting. For instance, these organizations are driving the path in adopting integrated
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