Tuesday, February 7, 2023
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • Columns
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Limited Game Time Compels Seakanyeng to Quit UAE-Based Outfit 

    Limited Game Time Compels Seakanyeng to Quit UAE-Based Outfit 

    Debswana sponsors BFA’s National First Division League with P3.9m 

    Debswana sponsors BFA’s National First Division League with P3.9m 

    Ditlhokwe Tipped to Excel at Kaizer Chiefs

    Ditlhokwe Tipped to Excel at Kaizer Chiefs

    BCF Aims to Resuscitate Chess this Year

    BCF Aims to Resuscitate Chess this Year

    Tebogo’s Move to US on Hold

    “Don’t Panic,” Tebogo is advised as He Transits to Senior Level

    NSAs decry Absence of School Sports 

    NSAs decry Absence of School Sports 

    Trending Tags

    • Subscribe
    No Result
    View All Result
    • Home
    • News
    • Economy
    • Columns
    • Companies & Markets
    • In Business With
    • Lifestyle
      • Motoring
    • Sports
      Limited Game Time Compels Seakanyeng to Quit UAE-Based Outfit 

      Limited Game Time Compels Seakanyeng to Quit UAE-Based Outfit 

      Debswana sponsors BFA’s National First Division League with P3.9m 

      Debswana sponsors BFA’s National First Division League with P3.9m 

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      Ditlhokwe Tipped to Excel at Kaizer Chiefs

      BCF Aims to Resuscitate Chess this Year

      BCF Aims to Resuscitate Chess this Year

      Tebogo’s Move to US on Hold

      “Don’t Panic,” Tebogo is advised as He Transits to Senior Level

      NSAs decry Absence of School Sports 

      NSAs decry Absence of School Sports 

      Trending Tags

      • Subscribe
      No Result
      View All Result
      The Business Weekly & Review
      No Result
      View All Result
      Home Columns #CorporateGovernanceCorner

      Integrated reporting insights for governance and accountability

      A thorough comprehension of integrated reporting is essential for parties entrusted with corporate governance responsibilities in varied organisations. The King IV Corporate Governance Code is largely premised on topical tenets ranging from ethical leadership, sustainable development, the organisation and its societal role, stakeholder inclusion, through to corporate citizenship, integrated thinking, and integrated reporting.

      mm by Dumisani Ntini
      November 8, 2021
      in #CorporateGovernanceCorner, Columns
      Reading Time: 3 mins read
      0
      Integrated reporting insights for governance and accountability
      Share on FacebookShare on Twitter

      The Code lays the foundation for multiple corporate governance regimes across the globe and presents a formidable standard guide for effective governance practices whilst appreciating the dynamism of global realities. The Code assists Boards of Directors, Chief Executive Officers (CEOs), Internal Auditors and other corporate governance designates to understand that changing times call for varied approaches and that their reporting to the numerous stakeholders they are accountable to should be comprehensive.

      Globally accepted definitions of Integrated Reporting appreciate the need for organisations to ensure that their reports go beyond simple financial reporting, ensuring that the reports incorporate issues of sustainability as well. The emphasis here is placed on the ‘triple context’ or ‘triple bottom line’ where the scope of the organisation’s reporting spans societal impact (People), issues related to the natural environment (Planet) as well as economic aspects (Profit). It is widely believed that holding such perspectives aids corporate governance designates in seeing to it that their organisations move from profit to value.

      For fortified integrated reporting in the organisation, there may be a requirement for a shift in the mindsets of boards, executives, and financial officers. It must be understood that success is tied to sources of value creation as well as the harmony of relationships within the organisation, hence the concept of integration.

      The starting point of integrated reporting is the consideration of the generally accepted themes and thereafter the specific content elements of the overall report. With respect to the themes {more specifically termed ‘guiding principles’ as outlined by the International Integrated Reporting Council (IIRC)}, governance designates tasked with the formulation of the report must consider the organisation’s strategic focus and future orientation which highlight the firm’s ability to create sustained value. They must also consider the connectivity of information as well as the stakeholder relationships within the organisation. Materiality is another crucial factor that would ensure that aspects that could reasonably affect value creation potential will be included in the report.

      The Integrated Report should reflect conciseness. It is important that the reports be brief albeit comprehensive. In close connection with conciseness, the reports must be reliable and complete. The contents of the report must include both positive and negative aspects in a balanced way to enable a wholesome view of the organisation’s standing. Having considered the guiding themes mentioned here, governance designates must then ensure the consistency and comparability of their integrated reports. Reporting should be uniform over the selected time period for which the particular type of integrated reporting has been selected. Furthermore, it should be easy for the readers of the reports to be able to compare them with integrated reports of other organisations such that in-depth assessments of value creation can be made over time.

      Having laid this foundation, the organisation can then decide on the particular content elements of the integrated report. The report would ordinarily commence with an overview of the organisation as well as its external environment, for the reader to appreciate its mandate and operational circumstances. Thereafter, the governance framework facets of the organisation must be included to reflect how value creation is supported.  The report must then highlight the organisation’s business model and it should be explicit with respect to the risks and opportunities that affect the organisation’s value creation capacity over short-, medium-, and long-term horizons. It is crucial for the report to highlight strategy, performance as well as resource allocation details in a clear and concise manner. Thereafter, the report must reveal the organisation’s outlook. Here, opportunities and challenges affecting sustainable growth are mentioned. In summary, the report may then alert readers of how the organisation decided upon the overall information included in the report, for an understanding of the report’s presentational basis. Consider the Botswana Stock Exchange’s Guidance for Listed Companies on Reporting ESG Information to Investors (2018 – https://www.bse.co.bw/) for a local, contextualised guide on reporting that transcends financial aspects.

      Integrated Reporting presents ample benefits for corporate governance designates and the organisation as a whole. These benefits include strengthened connection of departments in the organisation, streamlined internal processes, improved business understanding, strengthened strategy and models thereof as well as fortified effort and heightened awareness at executive and managerial levels, consequently resulting in sustainable value creation for stakeholders. It is therefore crucial for those entrusted with governance responsibilities to ensure that the organisation develops and maintains periodic integrated reports that will enable stakeholders to assess value creation as time progresses.


      For incomparable Governance, Corporate Strategy, and related solutions, contact Global Governance Group; info@governancegroup.org. Visit www.governancegroup.org.

      LinkedIn: Dumisani F. Ntini

      Facebook: BigBudget

      YouTube: BigBudget

      Instagram: biggbudget

      Tags: Botswana Stock ExchangeInternational Integrated Reporting Council (IIRC)

      Navigation

      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      Recent News

      • February 3rd Edition
      • Import Ban on Veges Could be Lifted
      • The Net Tightens Around Van Niekerk
      • Fiercely Schiaparelli: All that Glitters and Roars 
      • Bassett’s Queen is a Class Act 

      Site

      • About
      • Advertise
      • Privacy Policy
      • Cookie Policy
      • Contact
      • Subscribe
      • E-edition

      © 2021 The Business Weekly & Review. All Rights Reserved.

      No Result
      View All Result
      • Home
      • News
      • Economy
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      © 2021 The Business Weekly & Review. All Rights Reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?