Inspired by CFO innovation on the topic “Accounting For Tomorrow: Integrated Reporting Will Soon Be Compulsory”, I believe that the Integrated Reporting (IR) will be sooner compulsory and has insights how a social ERP system can cater to deliver all related stuff for an organisation with the value creation process for the short, medium and long run.
According to the Integrated Reporting – A Force For Financial Stability and Sustainability, IR targets to 4 main purposes which are information quality improvement, effective approach promotion, accountable enhancement for capital and support for actions to create business value.
Firstly, the critical factors to realise how the organisation’s capitals are transformed into the value creation process are eight contents that are fundamentally linked to each other and are not manually exclusive:
- Organisation overview and external environment
- Governance
- Business model
- Risks and opportunities
- Strategy and resource allocation
- Performance
- Outlook
- Basic presentation
The Value Creation Process (Source: IIRC’s Framework)
For more detailed information about the integrated reporting to decide which approach for your business to create the value, please download “Integrated Reporting – The Value Creation Process”
