'Integrated reporting brings together material information about an organization's strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it o

The Integrated Reporting Framework defines integrated reporting as 'a process founded on integrated thinking that results in a periodic integrated report by an organization about value creation over time and related communications regarding aspects of value creation.' Integrated reporting isn't just a reporting process. It's founded on integrated thinking, or systems thinking. Integrated thinking drives an improved understanding of how value is created and enhances decision-making by boards and management. The more integrated thinking is embedded in daily operations, the more naturally this information will be expressed in internal and external communications. On this basis, integrated thinking and integrated reporting are mutually reinforcing. An integrated report is a concise communication about an organisation's strategy, governance, performance and prospects. Integrated reporting is consistent with developments in financial and other reporting, but an integrated report also differs from other reports and communications in a number of ways. In particular, it focuses on the ability of an organization to create value in the short, medium and long term, and in so doing it has a combined emphasis on conciseness, strategic focus and future orientation, the connectivity of information and the capitals and their interdependencies; Emphasizes the importance of integrated thinking within the organization. Integrated reporting promotes a more cohesive and efficient approach to corporate reporting and aims to improve the quality of information available to providers of financial capital to enable a more efficient and productive allocation of capital. Content elements of integrated report The content of an organization's integrated report will depend on the individual circumstances of the organization. The Content Elements are therefore stated in the form of questions rather than as checklists of specific disclosures. Accordingly, judgement needs to be exercised in applying the Guiding Principles to determine what information is reported, as well as how it is reported. Organizational overview and external environment - What does the organization do and what are the circumstances under which it operates? Governance - How does the organization's governance structure support its ability to create value in the short, medium and long term? Business model - What is the organization's business model? Risks and opportunities - What are the specific risks and opportunities that affect the organization's ability to create value over the short, medium and long term, and how is the organization dealing with them? Strategy and resource allocation - Where does the organization want to go and how does it intend to get there? Performance - To what extent has the organization achieved its strategic objectives for the period and what are its outcomes in terms of effects on the capitals? Outlook - What challenges and uncertainties is the organization likely to encounter in pursuing its strategy, and what are the potential implications for its business model and future performance? Basis of presentation - How does the organization determine what matters to include in the integrated report and how are such matters quantified or evaluated?