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Paradigm Shift in Corporate Reporting

In: Accounting and Corporate Reporting - Today and Tomorrow

Author

Listed:
  • Pinar Okan Gokten
  • Beyhan Marsap

Abstract

In this paper, we present the evolution of integrated reporting and organizations playing an active role in this process. As a result of the changes, corporate reports including only historical financial information have become insufficient. It has started to be important for the firms to be sensitive towards environment, social capital and governance. For these reasons, authorities started to search for new reporting types. Their aim was to form a report giving detailed (prospective and retrospective) information about the total performance of the firm. Sustainability reports, the starting point of integrated reporting, were established and Global Reporting Initiative (GRI) standards were formed to increase the popularization. Integrated reports aim to supply full disclosure about the firms' strategies, goals and performances. They also respond to the demands and needs of key stakeholders. In order to actualize the financial stability and sustainability, they are necessary. Integrated reports also put related groups into play. So, decision makers become a participant instead of watching the system from outside. In addition, integrated thinking philosophy provides systematic disclosure of value creation, namely how organizations made resource allocations in the past and how they will create value in the future according to their business models.

Suggested Citation

  • Pinar Okan Gokten & Beyhan Marsap, 2017. "Paradigm Shift in Corporate Reporting," Chapters, in: Soner Gokten (ed.), Accounting and Corporate Reporting - Today and Tomorrow, IntechOpen.
  • Handle: RePEc:ito:pchaps:119110
    DOI: 10.5772/intechopen.68832
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    More about this item

    Keywords

    integrated reporting; sustainability reporting; International Integrated Reporting Council; Global Reporting Initiative;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G0 - Financial Economics - - General

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