Australia

Details

  • Service: Audit, Accounting Advisory Services, International Financial Reporting Standards (IFRS), Topics, Business Reporting, Financial Reports
  • Type: Regulatory update
  • Date: 13/12/2013

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

Integrated Reporting (2013/23) 

This In the Headlines looks at the newly issued Integrated Reporting Framework, which aims to reshape the direction and focus of corporate reporting.
In the Headlines cover
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Integrated Reporting is a relatively new concept, and has been subject to a variety of interpretations – some of which are more closely linked to sustainability.

In finalising the Framework, the IIRC has provided greater clarity over a number of areas, including the following points:

 

  • Investors are the focus of an integrated report. Information would only be included in an integrated report if it is considered material to an investor’s assessment of the business.
  • The purpose of an integrated report is to explain shareholder value creation. It does not set out to value the resources controlled by the business.
 

Financial reports – less clutter, more value

Financial reports – less clutter, more value
Financial reports are increasingly lengthy and complex – reducing your ability to effectively communicate how your business is performing.