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Integrated reporting ‘will help CFOs raise capital’

KMPG outlines potential benefits of ‘getting it right’ on integrated reports

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Taking a lead on improving corporate reporting will help companies access capital more easily and more affordably, according to KPMG.

CEOs stand to benefit from an improved reporting regime but CFOs are among those with the most to gain, the firm said in its response to a newly-published report from the International Integrated Reporting Committee (IIRC).

KPMG experts said businesses can seize a competitive advantage to innovate effectively and take action to improve the way they communicate with shareholders.

The IIRC called for greater transparency with regards to the economic, environmental and social impacts of corporate activities and said work needs to be done to ensure reporting can be made “fit-for-purpose” in the 21st century.

“As access to finance tightens through challenging market conditions, many companies are re-evaluating the scope of their communications to the capital markets,” said David Matthews, an audit partner at KPMG and a member of the IIRC’s working group.

“Providing strategic and forward looking information about the performance and prospects of the company is a powerful way to convince the capital markets of the worthiness of investing in a company.”   

Clarity and concision were cited by the IIRC as important issues to be addressed when it comes to improving and integrating corporate reporting. Documents in this context are “too long already”, said the committee, whose deputy chairman is the Bank of England governor Mervyn King.

“Integrated reporting reduces the compliance burden and enables more effective decision-making for investors,” King said in the IIRC’s report on Monday.

Back in June, the research company Black Sun said that the gap between political rhetoric on corporate reporting and improvement in practice is widest among businesses from the world’s 20 largest economies.


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