As a recent graduate, you work for a mid-tier Australian accounting firm. You have been assigned by a number of the partners to write a report that will give them the knowledge they need to decide whether and how much they should engage in “Integrated Reporting” in order to advise clients in this area. Although some of the partners are unaware of what integrated reporting actually entails or how to use it to benefit their clients, all of the partners are aware that it is a growing area of interest.
The viewpoints of the partners on the matter diverge. Maggie Smith, one of the partners, is particularly enthusiastic about the concept and thinks it would give them a competitive advantage, allow them to be perceived as a well-rounded “full-service” practice, and that it is a crucial way for them to make a genuine, beneficial contribution to clients’ businesses and the larger community of stakeholders.
Steven Wong, a different partner, believes it can be a costly exercise that doesn’t really improve the success of the business. He thinks the firm shouldn’t bother about “gimmicks” and should instead concentrate on its core activities, which include tax, auditing, and advising services. He claimed, “We shouldn’t waste money investing in this because it is just a passing trend that will end in a few years.”
The partners want suggestions they can talk about at their upcoming board meeting. Along with the partners, who are accountants, the board also consists of lawyers and other specialists (non-accountants). They have asked that you ensure your report includes—but is not limited to—advice or comments on the following factors:
1. The origins and significance of integrated reporting
2. Justifications for and against emphasizing integrated reporting, as well as the advantages and disadvantages of doing so.
3. How should this additional field be promoted to clients if integrated reporting is selected as a workable option? What specific services might be provided, and what qualifications and training would the staff need to perform those services?
4. Should the accounting practice think about more fully integrating integrated reporting policies into its own operations? (Also providing clients with advice on the matter.) Describe your thinking.
You are aware of some top-notch integrated reporting material, which you will also use in this report. Any information that you believe will help them with this crucial decision may be included in the report. You must base your discussion on at least ten sources. Numerous helpful journal articles on this subject can be found in the library databases (http://elearning.kbs.edu.au/course/view.php?id=159). Though many Australian businesses are eager to engage in integrated reporting, keep in mind that many are uncertain of what it truly entails or how to apply it in their businesses.
Business report technical content makes up about 30% of the final business report’s 40% content. Format, wording, and presentation used in business reports: 10%
3000 words is the maximum allowed (excluding references, the abstract, and appendices).
components of reports
Report components include: 1) body of the report; 2) introduction (background, goal, scope, methodology, and definitions); • Executive Summary; • Table of Contents; • List of Figures
• Discussion may have many sections.
Conclusions, suggestions, and recommendations are all included in this section.
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