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Integrated Reporting: Scopes in Stakeholder Management

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Added on  2020-03-16

Integrated Reporting: Scopes in Stakeholder Management

   Added on 2020-03-16

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Running head: INTEGRATED REPORTING: SCOPES IN STAKEHOLDER MANAGEMENTIntegrated Reporting: Scopes in Stakeholder ManagementName of the StudentName of the UniversityAuthor Note
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1INTEGRATED REPORTING: SCOPES IN STAKEHOLDER MANAGEMENT Table of ContentsIntroduction......................................................................................................................................2Importance of Integrated Reporting:...............................................................................................2Research Question:..........................................................................................................................3Literature Review:...........................................................................................................................4Accounting Theories relevant to Integrated Reporting:..................................................................7Agency Theory:...........................................................................................................................8Stakeholders Theory:...................................................................................................................8Stewardship Theory:....................................................................................................................9Methodology:...................................................................................................................................9Ethical Approval:...........................................................................................................................10References......................................................................................................................................12
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2INTEGRATED REPORTING: SCOPES IN STAKEHOLDER MANAGEMENT Introduction In the current commercial sector, in the global framework, with increase in thecomplexities and variability in the business operations of the enterprises, transparency hasbecome one of the primary issues of concern among the participants in the commercialoperations. Transparency and clarity in business operations are of utmost importance not only forstakeholders who invest on the companies, but also for the companies themselves as a lot of theirgoodwill and future prospects are dependent on the trust and loyalty of the investors andshareholders as well as their clients. A clear, inclusive and timely reporting of the financial andother business activities is therefore an important task on part of the commercial enterprise(Cohen et al. 2012). The research proposal takes into account the viability and appropriateness ofintegrated reporting mechanism in this aspect. Importance of Integrated Reporting: In any kind of business for proper and smooth running of the business operations and forachieving cost efficiency and economies of scale in production, to increase the sustainability andfuture prospects of the commercial enterprises, it is important to keep a clear monitoring tab onthe financial and overall commercial operations of the enterprises. This can be done in the formof forming a comprehensive and all-inclusive compact report on a regular interval (Busco 2014).The reports, published by the enterprises are usually made available to all the stakeholders andthey act as an important tool for the purpose of decision making on part of the stakeholders withrespect to the amount to investment, where to invest and when to invest.
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3INTEGRATED REPORTING: SCOPES IN STAKEHOLDER MANAGEMENT In this context, various forms of corporate reporting have evolved over the years, as perthe needs and changes in the dynamics of the global business activities. These reports are of bothfinancial and non-financial in nature. However, though corporate reporting has evolved a lot withtime and has incorporated many of the complexities and changed nature of business operations,there are still several crucial gaps existing in most of the corporate reporting mechanisms (Ioanaand Adriana 2013). Most of these reports, though take into account the major financial andcorporate details, fail to mostly take into account the underlying economic insights and non-monetary aspects of doing business, which also play significant role in determining the prospectsof the companies in short term as well as in long term. The reports also fail to take into accountthe externalities (both positive and negative) that occur in response to the activities of theseenterprises (Brown and Dillard 2014). These gaps in corporate reporting, which causes problems in decision making process ofthe stakeholders, give rise to need for a more inclusive and versatile reporting, which in its turnindicates towards implementation of integrated reporting, which, in one document tries to make aholistic representation of the financial and non-financial aspects of the commercial enterprises.This form of reporting thus, poses as an effective method of communication and stakeholdermanagement and thus, is an area of interest in the field of research regarding improvingefficiency in accounting aspects (Eccles and Krzus 2014). Research Question: The concerned research deals with the primary question of the efficiency and viability ofthe mechanism of integrated reporting as a robust alternative to the existing conventional
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