Discuss the guiding principles of International Integrated Reporting Council (IIRC) which underpin the preparation of an Integrated report, specifying the contents of report and how information is to be presented.

The International Integrated Reporting Council (IIRC) has prescribed Guiding Principles which underpin the preparation of an integrated report, specifying the content of the report and how information is to be presented are as under: Strategic focus and future orientation: An integrated report should provide insight into the organization's strategy and how it relates to the organization's ability to create value in the short, medium and long term, and to its use of and effects on capital. Connectivity of information: An integrated report should show a holistic picture of the combination, interrelatedness and dependencies between the factors that affect the organization's ability to create value over time. Stakeholder relationships: An integrated report should provide insight into the nature and quality of the organization's relationships with its key stakeholders, including how and to what extent the organization understands, takes into account and responds to their legitimate needs and interests. Materiality: An integrated report should disclose information about matters that substantively affect the organization's ability to create value over the short, medium and long term. Conciseness: An integrated report should be concise. Reliability and completeness: An integrated report should include all material matters, both positive and negative, in a balanced way and without material error. Consistency and comparability: The information in an integrated report should be presented: (a) on a basis that is consistent over time; and (b) in a way that enables comparison with other organizations to the extent it is material to the organization's own ability to create value over time. All organizations depend on various forms of capital for their success. It is important that all such forms of capital are disclosed to stakeholders to enable informed investment decision making.