综合报告洞见3.0_展现_真实_的一面（英文版）_58页_11mb

Summary of Insights into integrated reporting 3.0: The drive for authenticity

Core Content

This report provides an in-depth analysis of integrated reporting practices among organisations in the <IR> Business Network, highlighting both progress and persistent challenges in the implementation of integrated reporting. It is part of a three-year initiative by ACCA in collaboration with the International Integrated Reporting Council (IIRC) to review integrated reports and offer insights to improve the quality and authenticity of corporate disclosures.

Main Points

1. Overview of the Report

• The report examines the reporting practices of 48 <IR> Business Network participants.
• It focuses on the progress made, challenges faced, and practical recommendations for integrated reporting.
• The review aims to provide feedback to participating companies and generate broader insights for the market.

2. Trends in Integrated Reporting

• Conciseness: Integrated reports have become more concise, indicating a stronger focus on material issues.
• SDG Commitments: A growing number of organisations are reporting on their UN Sustainable Development Goals (SDGs), with 21 out of 48 companies doing so this year.
• Assurance: There is an increase in the level of assurance sought on integrated reports, with some companies now obtaining reasonable assurance on specific sections.
• Explicit Commitment: 77% of the reports reviewed explicitly identified themselves as integrated reports, up from 58% in 2018.

3. Challenges in Reporting Quality

• Balance and Authenticity: A lack of balance in reporting, particularly between positive and negative performance, remains a key issue.
• Performance Reporting: Many organisations still avoid disclosing targets and forecasts when reporting performance against strategic objectives.
• Risks and Opportunities: Discussions on how organisations manage future risks and opportunities are often generic or incomplete.
• Business Model Reporting: The quality of reporting on business models has declined, especially in sectors like banking where it's challenging to explain complex services in the context of value creation.

4. Sectoral Insights

• European Companies: 47% of the reports reviewed were from European firms.
• Financial Sector: Banks and insurance companies are well-represented, accounting for 38% of the reviewed reports.
• Other Sectors: Transport, utilities, pharmaceuticals, consumer goods, and basic resources are also notable participants.

5. Assurance Developments

• Reasonable Assurance: Some companies are now seeking reasonable assurance on their integrated reports, a step up from limited assurance.
• GRI Disclosures: The use of GRI standards has increased, with 69% of reports now complying with GRI requirements.
• TCFD Recommendations: 19% of the reports referred to the Task Force for Climate-related Financial Disclosures (TCFD), with many companies planning to implement them in the future.

Key Recommendations and Practical Approaches

• Balance in Reporting: Companies should provide a balanced view of performance, including both positive and negative aspects.
• Materiality: There is a need for better materiality determination and clearer disclosure of impacts.
• Stakeholder Engagement: Integrated reporting should better address the needs of financial capital providers and other stakeholders.
• Business Model Clarity: Greater clarity is needed in explaining how organisations create value through their business models.
• Assurance Integration: Assurance providers should be encouraged to offer reasonable assurance on the <IR> Framework, which is principles-based.

Conclusion

Integrated reporting continues to gain traction globally, with notable progress in conciseness, SDG reporting, and assurance levels. However, the quality of reporting in key areas such as balance, completeness, performance, risks, and business models has declined. The report emphasizes the need for authenticity in corporate disclosures, urging organisations to move beyond mere compliance and focus on strategic thinking and value creation.

It concludes with ten top tips for authentic reporting and includes good practice ideas and case studies from leading organisations such as ING, Royal Schiphol Group, and EnBW. These examples illustrate how integrated reporting can be used to enhance capital market engagement, sustainability, and strategic clarity.

Appendices and References

• The report includes Appendices with details on the <IR> Specialist Panel, interviewees, and links to the reports discussed.
• References to IIRC, GRI, TCFD, and EU NFR Directive are provided for further reading.

Ten Top Tips for Authentic Reporting

1. Ensure a balanced view of performance.
2. Focus on materiality and relevance.
3. Clarify the intended audience.
4. Improve the articulation of business models.
5. Incorporate stakeholder perspectives.
6. Provide detailed explanations of risks and opportunities.
7. Use the <IR> Framework as a guide.
8. Enhance transparency and accountability.
9. Integrate sustainability and ESG data.
10. Engage with assurance providers to improve report quality.

Final Thoughts

The report underscores that while integrated reporting is on the rise, its authenticity and completeness are still areas needing attention. The financial sector is a key driver in this movement, with banks and insurance companies leading in the adoption and implementation of integrated reporting. The <IR> Business Network continues to be a valuable platform for learning and improvement, and the insights from this review are expected to support further development in the field.