ACC303 - Relevance of IR Framework in the Contemporary Corporate World

This essay examines the relevance of the Integrated Reporting (IR) Framework in the contemporary corporate world, as advocated by the International Integrated Reporting Council (IIRC). It evaluates the framework's impact on corporate reporting norms, particularly in integrating strategic information across various capitals, including financial, manufactured, intellectual, human, social and relationship, and natural resources. The essay highlights how IR promotes integrated thinking, enhances financial performance, and influences strategic control and value creation within organizations. It also discusses the adoption rate of the IR Framework among public and private firms globally, noting its increasing traction in regions like Australia, Asia, and Europe. The document concludes by emphasizing the framework's role in improving the quality of information available to shareholders and its capacity to create and sustain value.

A U T H O R
C O U R S E
I N S T R U C T O R
U N I V E R S I T Y
C I T Y
ACC303 ADVANCE
MANAGEMENT ACCOUNTING
MAJOR ASSIGNMENT QUESTION

Introduction
The latest framework to the corporate reporting
known as the integrated reporting was suggested by
IIRC.
The IR is new but is considered a powerful hint to
corporate reporting; enhancing the manner in which
firm think, report and plan stories of their operations.
A good number of entities are using the IR in
communicating concise, clear, and integrated stories
which demonstrates how all the resources are adding
some value (Moolman, Oberholzer & Steyn 2016).
As a result, the paper assesses relevance of the IR in
modern corporate world..

Relevance of IR in Modern Corporate
World
IR is a process established on an integrated
intelligent, which leads to period integrated
reporting by an entity on value creation over
specific period (Lodh 2018).
The framework expands excellence of financial
information readily accessible to the financial
capital suppliers in empowering more creative and
competent capital allocation.
It also boosts stewardship and responsibility for
different forms of capitals as well as promotes their
interdependencies understanding.
IR moves far beyond the silo technique of
information reporting and gathering towards more
comprehensive examination and presentation of

Whether the IR Framework is Utilised by Significantly
Huge Number of Private and Public Organisations
A good number of public and private firms are already
publishing the IR prior to launch of the new
framework by IIRC. T
hey incorporate several concepts established in the
new framework and clearly demonstrate foundation on
how they create some values.
Besides, IR is gains a lot of tractions very fast in
specific regions across the globe.
For example, in many developed regions like Australia,
the framework is gaining high adoption with a good
number of public and private firms embracing the
model.
Generally, uptake of the IR framework continues

Whether IR Has Had Any Influence on Control and Strategies on
Entity’s Business Model like Strategic Control and Value
Creation
IR has brought about integrated thinking which has
benefited the firms on the way they handle their
operations.
Through IR, organizations have had improved
financial performances.
Besides, IR framework has had significant
influence on organization’s strategic control since
it offer crucial solution to ways in which
organizational board of directors are urged to act
and think.
IR has influenced value creation since it improves
on the quality of the information readily accessible
to the shareholders by combining diverse
constituent of financial reporting in a more

REFERENCES
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Reporting Approach Enhance the Value Relevance of Accounting Information?: Evidence from
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Economics and Financial Issues, 7(1).
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referent – a theoretical discourse for augmentation’, International Journal of Critical
Accounting, Vol. 10, No. 5. pp.341-362.
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1351.
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