New audit committee guide on integrated reporting

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Key Points

  • We have released our latest Audit Committee Series publication, which provides guidance on integrated reporting
  • The guide assists directors to understand principles of the International Integrated Reporting Framework
  • The publication also provides guidance on the role of the audit committee in an organisation’s integrated reporting journey.

We have released our latest audit committee guide, Integrated Reporting – a guide for Audit Committees in Australia and New Zealand.

While there has been progress in reporting of environmental, sustainability and gender equality indicators, organisations now have the difficult task of balancing demands for more information while also making reports meaningful for a broader range of stakeholders.

Our guide provides an overview of the International Integrated Reporting Framework, which was developed by the International Integrated Reporting Council (IIRC) through a global consultation process. 

Our Head of Business Policy and Sustainability, Karen McWilliams FCA, says the Integrated Reporting framework provides guidance on better demonstrating links between an organisation’s strategy, governance and business model.

The guide includes guidance on how organisations can start their journey towards integrated reporting and questions for audit committees to ask of management.

“The role of the audit committee has expanded well beyond the financials and now extends to examining non-financial information too,” Ms McWilliams said.

If an organisation decides to begin its journey towards integrated reporting, the audit committee will need to be involved at critical steps along the journey.

“The issues which are material for integrated reporting will be aligned to those that are important to the audit committee and board. These issues will go beyond the financial performance of the organisation,” she said.

This is the seventh guide in the Institute’s Audit Committee series.

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Article last updated 30 June 2014

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