Adopting the principles of integrated reporting: the future is clear
While rebuilding public trust is a long game, business leaders can demonstrate successful progress and outcomes to stakeholders through integrated corporate reporting. Integrated reporting is a concise communication about how an organisation’s strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term.
The recently released fourth edition of the ASX Corporate Governance Principles & Recommendations (4th Edition) sets out actions to rebuild trust and is a welcome development for corporate Australia.
We asked five senior business leaders questions on their and their company’s response to adopting the principles of integrated reporting and our chairman, Alison Kitchen on what she thinks are the important characteristics of a 21st century leader.
These are their responses.
Dominic Barton, Chairman, IIRC, former Global Managing Partner, McKinsey and Senior Partner, McKinsey Hong Kong
Dominic, why have you taken on the role of Chairman of the International Integrated Reporting Council (IIRC)?
Why do you think integrated reporting and integrated thinking are important for both financial market stability and sustainable development?
Elizabeth Johnstone, Chair, ASX Corporate Governance Council
Elizabeth, why was Recommendation 4.3 in the 4th edition of the ASX Corporate Governance Principles and Recommendations introduced, looking at broader business reporting and the credibility of the information provided?
David Atkin, CEO, Cbus
David, why has Cbus adopted integrated reporting?
What have been the benefits of integrated thinking for Cbus?
Chairman, KPMG Australia
What are the characteristics of 21st century leaders?
What changes do 21st century leaders need to make when making business decisions?
John Stanhope AM
Chair, Australia Post; Director, AGL; Chancellor, Deakin University and Vice‑Chair, IIRC
Why have the companies you chair or sit on the Board of moved to adopt integrated reporting?
Facilitated by Nick Ridehalgh, KPMG, Lead Partner, Better Business Reporting