Accounting Today: IFAC CEO cites integrated reporting in discussion of global impact of accounting

5 Sep 2017 4:15 PM | Mary Adams (Administrator)

A recent Accounting Today article entitled IFAC CEO Choudhury sees accountants making an impact globally, cites Choudhury's explanation of the rationale for integrated reporting:

The public’s trust in institutions—public sector, private sector, media and non-governmental organizations—is really declining...I think financial reporting comes into that discussion, because a lot of stakeholders have become far more concerned about what entities they invest in, or contribute taxation money to, how they are adding value. It’s not all about the bottom line. If that bottom line is earned at the cost of a lot of negative effects overall, is that a good thing or a bad thing? The notion of moving beyond financial reporting to integrated reporting and actually having a systematic discussion of how an entity creates value addition, how it creates wealth, we believe is a very important direction for the future, and we are wholly supportive of the International Integrated Reporting Council’s work.

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