It's hard to keep up with all that's happening in the world of corporate reporting. Last week I had the pleasure of attending the IIRC's pilot kick off meeting in Rotterdam. It was a great two days with a real sense of purpose and real engagement from all the pilot companies who attended from around the world. Interestingly there was a clear ambition from all to use the pilot programme to change not only the way they report externally, but just as importantly to influence the mindset and business practices within their organisations. Put simply, integrated reporting starts with an integrated mindset. Here in London there is also a growing momentum for change. Ed Davey at the Department for Business Innovation and Skills (BIS) is leading a consultation to rethink the structure of annual reports. The paper entitled 'The future of narrative reporting' aims to sharpen the reporting model and make key information easier for investors to find. Central to the proposals is the idea to re-structure the annual report, to focus it on two elements: the strategy report and the directors’ disclosure report.
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