The report contains the views of influential figures from key different vantage points in the financial chain – preparers, users, standard-setters, regulators and auditors – on the changes required to the traditional corporate reporting model, which no longer meets the needs of investors and other stakeholders.
Common themes in the interviews include:
- the need to make corporate reports more forward-looking;
- how to achieve a balance between too much information and too little;
- whether the notion of "integrated reporting" could be the "next big thing"; and
- the role of auditors in the new corporate reporting model.
The report interviewees include senior executives from companies such as Standard & Poor's, HSBC and SAP, as well as leading figures from the International Integrated Reporting Council (IIRC), International Accounting Standards Board (IASB), Financial Reporting Council (FRC) and other organizations.
All agreed on the need for change, but they did not concur on how far-reaching the reforms had to be or what should be altered.