This report provides a comprehensive analysis of integrated reporting in the context of the Australian business environment, drawing upon the CPA Australia report and the International Integrated Reporting Council (IIRC) framework. It begins by defining the role of the IIRC in establishing a globally accepted framework for value creation communication. The report then examines the existing and potential roles of integrated reporting with respect to stakeholder information needs, engagement, reporting comparability and quality. A comparison is made between the CPA report findings and the IIRC's guiding principles, including stakeholder relationships, materiality, conciseness, reliability, completeness, consistency, and comparability. Furthermore, the report identifies the similarities and differences between the International Framework and general purpose financial reporting, focusing on objectives, users, and materiality concepts. Finally, the integrated reports of four companies are compared against the IR Guiding Principles, and factors explaining the similarities and differences are discussed. This analysis offers insights into the practical application and challenges of integrated reporting in Australia.