Integrated Reporting means: reporting on financial and non-financial results. The fact that a company is dependent on more than just financial factors, for example labor, resources, intellectual property and reputation is taken into account. It's not only about the current situation but also about the long term vision. In other words: transparency, which is exactly what investors need.
Fact: of the 50 largest Dutch companies, in 2011, no less than 90% were active with (some type of) Integrated Reporting, according to research carried out by Pricewaterhouse Coopers. For SME the percentage is lower, but there too there growth is visible. So, Integrated Reporting is 'here to stay’. It is not a hype, it is a new reality. Sustainable business operations are quite simply essential to retain access to the capital market.
Integrated Reporting is therefore relevant, but what does that mean for the organization? The Framework is based on a number of principles that form the basis for an integrated report. These are known as Fundamental Concepts. It is not about strictly defined procedures or performance indicators but rather about thematic guidelines:
Therefore, Integrated Reporting is good for the company itself, but how can you integrate that in day-to-day operations? How do you ensure that it does not lead to unnecessary additional reporting obligations? Rest assured, with the EFQM Excellence Model a ready to use solution is available. The EFQM Model has proven itself to be effective in creating a self-learning organization that becomes better able to meet the expectations of stakeholders.
The EFQM helps organizations in their pursuit of excellence. An important tool for that is the EFQM Management Document. This is used primarily when applying for an EFQM quality stamp. Putting together an EFQM Management Document helps to set priorities and maintain focus. It is a non-bureaucratic way to oversee and record core activities, improvement measures and operating results. The result? A clear helicopter view and a keen eye for the strategy to be followed.
The International Integrated Reporting Framework and the EFQM Excellence Model have different purposes but shared values. They both stand for a sustainable future where value creation in the broadest sense is central. Joining forces is therefore only logical. We stand strong together.
Would you like to know more about the EFQM Management Document? Read: Why non-financial results are of crucial importance. You may also email us: firstname.lastname@example.org
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