ACCA and IMA See Role for Accountants in Integrated Reporting

The Association of Chartered Certified Accountants and the Institute of Management Accountants issued a new report on how accountants can play a key role in the transition to integrated presentation of reports.

The report, "From Shared Value Share Value: Analysis of the role of accounting in the development of integrated reports in practice," examines the recent movement in Europe reports integrated into these reports in particular. both companies explained their own financial performance and the social and economic impact they make.

Integrated, or IR, reporting is defined as a concise communication about the strategy, governance, performance and prospects of the company, in the context of its external environment, leading to the creation of value in the short, medium and long term.

The report explains how accountants can help identify areas for improvement and development of solutions. The implementation of new accounting methods requires careful design guidelines and processes, and accountants can play an important role in the development of the composite report.

"I think the adoption of the IR will not reach its full potential, including the United States, unless, as the accounting community, we took several steps to lay the groundwork for a transformation of external corporate reporting," said IMA VP Raef Lawson research and policy in a statement.

CFO can be IR project managers in their companies, while accountants, management accountants and auditors have an important role to play in developing the right to recognition of capital, systems right information and the right insurance for reported information, according to the report.

"The role of accounting in the execution of IR are paramount. CFO can be project leaders IR within their companies," said Faye Chua, director of corporate vision of ACCA. "Accountants, management accountants, and auditors have an important role to play in the development of law recognizing the right of capital information systems, and insurance law of reported information."