Integrated Reporting: Performance Insight Through Better Business Reporting
Integrated Reporting
Performance insight through Better Business Reporting
Issue 1
kpmg.com
3 | Section or Brochure name
Contents 2-3 4-5 6-9 10-13 14-17 18-21 Introducing Integrated Reporting Some common questions answered The business case for Integrated Reporting Integrated Reporting: The South African experience Making your Corporate Responsibility report relevant Engaging with Integrated Reporting
kpmg.com/integratedreporting
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved.
Integrated Reporting | 1
Foreword
Welcome to the first edition of Integrated Reporting, our new publication which focuses on the challenge of providing better corporate reporting. Many of you reading this may not be familiar with the topic, but with the publication by the International Integrated Reporting Committee (IIRC) of its Discussion Paper, it is likely that it will be a subject that you hear more about in the future. In KPMG we have looked at this in the past simply as ‘Better Business Reporting’, since we feel that this captures the essence of the subject.
In this first edition, we have aimed to provide you with some background on Integrated Reporting with a series of short articles by some of our firms’ specialists. After a brief summary to help you understand what Integrated Reporting is, Michael Bray sets out the case as to why senior executives and non-executives ought to be interested. With Integrated Reporting now required for listed companies on an ‘apply or explain’ basis in South Africa, Mark Hoffman reports on the experiences of companies seeking to implement the principles of Integrated Reporting for the first time. Integrated Reporting is sometimes articulated as being simply the integration of corporate responsibility reporting into existing financial
Performance insight through Better Business Reporting
Issue 1
kpmg.com
3 | Section or Brochure name
Contents 2-3 4-5 6-9 10-13 14-17 18-21 Introducing Integrated Reporting Some common questions answered The business case for Integrated Reporting Integrated Reporting: The South African experience Making your Corporate Responsibility report relevant Engaging with Integrated Reporting
kpmg.com/integratedreporting
© 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved.
Integrated Reporting | 1
Foreword
Welcome to the first edition of Integrated Reporting, our new publication which focuses on the challenge of providing better corporate reporting. Many of you reading this may not be familiar with the topic, but with the publication by the International Integrated Reporting Committee (IIRC) of its Discussion Paper, it is likely that it will be a subject that you hear more about in the future. In KPMG we have looked at this in the past simply as ‘Better Business Reporting’, since we feel that this captures the essence of the subject.
In this first edition, we have aimed to provide you with some background on Integrated Reporting with a series of short articles by some of our firms’ specialists. After a brief summary to help you understand what Integrated Reporting is, Michael Bray sets out the case as to why senior executives and non-executives ought to be interested. With Integrated Reporting now required for listed companies on an ‘apply or explain’ basis in South Africa, Mark Hoffman reports on the experiences of companies seeking to implement the principles of Integrated Reporting for the first time. Integrated Reporting is sometimes articulated as being simply the integration of corporate responsibility reporting into existing financial