The time has come for Integrated Reporting to become mainstream in Australia by 2015. Directors are concern that Integrated Reporting will add to the burden and that concern needs to be alleviated for that sort of time frame to be achieved.
A lot of the complexity that exists in reporting at the moment is about voluntary things; things that are open for companies to make their own changes to reduce the burden. Directors can lead that charge. There are things that need to be changed as a matter of legislation as well and that we’ll be looking to working with legislators and regulators on that matter in due course.
Directors have a critical role to play in using their voice with legislators and regulators, but also working with their management teams on the voluntary things that would affect the necessary change.