Integrated Reporting - Step 3: Collaboration and Innovation

The Internet offers an excellent medium for companies to enhance their strategic communications and collaboration with investors and other stakeholders, as well as for sparking innovation. In fact, innovation is often inspired by unexpected voices that bring a fresh perspective to solving a particular need. Web 2.0 technologies and social media tools encourage an intimate dialogue with people both inside and outside a company’s normal circle of colleagues and customers. They can foster teamwork, thereby enhancing productivity. In addition, businesses can seek input from people in other industries and with different perspectives who may approach the challenges in a completely different way. The Canadian Institute of Chartered Accountants (CICA) is undertaking research to promote effective communication by providing helpful guidance for "Using the Internet in Corporate Reporting." The booklet "Practical Guidance for Managing Collaboration and Innovation" is available as a discussion draft on the CICA website.