Center for Integrated Reporting Research
Carroll College Accounting Student Research
Carroll College Accounting majors are examining Integrated Reporting as a cutting-edge reporting model that reflects environmental, social, and governance (ESG) issues for sustainable business. Student research is presented at Carroll College's annual Student Undergraduate Research Festival (SURF).
Integrated Reporting and Stewardship
During his tenure, Pope Francis has shown his commitment to environmental and social issues. In his encyclical on the common home, Pope Francis urges us "to bring the whole human family together to seek a sustainable and integral development" so we can improve our relationships with each other and the environment. He acknowledges that humankind's way of living needs to change along with how and what we produce and consume in order to stop global warming.
Integrated reporting applies these concepts to the business world by enhancing accountability, stewardship, and trust to create a more responible, stable, and transparent gloabl economy.
We need a conversation which includes everyone, since the environmental challenge we are undergoing, and its human roots, concern and affect us all. - Pope Francis
Integrated Reporting reflects an integrated representation of financial, social, and environmental factors that create value and focus on sustainability. Value is created for organizations and their stakeholders, including society at large, by preserving and improving six capitals:
- Social Relationships
Benefits of Integrated Reporting
- Improved communication of accurate financial and non-financial information.
- Decreased reputation risks and increased levels of trust with stakeholders.
- Better allocation of resources in a manner that creates value for all stakeholders.
Guiding Principles of Integrated Reporting
- Strategic Focus and Future Orientation
- Connectivity of Information
- Stakeholder Relationships
- Reliability and Completeness
- Consistency and Comparability
Integrated reporting is leading the way in sustainable business practices. Its empahasis on accountability, stewardship, and trust provides all users with genuine, easy-to-use information. Here's what professionals have said about <IR>:
For investors to make investment and voting decisions, we don’t believe that more information is necessarily better. Instead, we’ve challenged ourselves to provide better information. - Jeffrey Immelt CEO, General Electric
Integrated reporting is actively helping us to become a better and more accountable organization. It causes us to think beyond compliance and ﬁnancial reporting to deeply examine all the ways in which we deliver sustainable value, and is a highly practical way of redeﬁning how business is done. - CIMA