Integrated Reporting: Performance insight through Better Business Reporting

KPMG has issued the first edition of the publication Integrated Reporting: Performance insight through Better Business Reporting. It focuses on the challenge of providing better corporate reporting. Many who read this may not be familiar with the topic but, with the publication by the International Integrated Reporting Committee (IIRC) of its Discussion Paper, it is likely to receive more attention in the future. In the past, KPMG has looked at this as “Better Business Reporting” which captures the essence of the subject.

The first edition provides some background on Integrated Reporting with a series of short articles by some of the firms’ specialists. After a brief summary that explains what Integrated Reporting is, Michael Bray sets out the case as to why senior executives and non-executives ought to be interested.

XBRL International Conference – October 2011

XBRL (eXtensible Business Reporting Language) is transforming business reporting. Does your company seek recognition as a thought leader on XBRL? If you have business interests or plans for business development, do not miss this opportunity to take the stage! The 23rd XBRL International Conference: "XBRL23:  Enhancing Business Performance" is produced by XBRL International, Inc. and hosted by XBRL Canada. The Conference will be held on October 25-27, 2011 at Le Centre Sheraton, Montreal, Canada.

XBRL is an XML-based, royalty-free, open standard for business reporting. XBRL was developed by XBRL International, a not-for-profit consortium of leading companies and organisations around the world. For more information about the XBRL standard,  visit the XBRL International website. XBRL Canada conducts seminars and webinars for companies and individuals wishing to learn more about XBRL. Currently, it is also working on projects to assist companies with convergence to IFRS.

Mobile insecurity

The proliferation of mobile computing has brought on a number of challenges, specifically around security issues. Smartphones are repeating a pattern witnessed in the 1980s with desktop computers. They flood into the corporate fold without any rational plan. And very often, they are introduced by employees who can’t resist the status statement these devices make. The greatest obstacle to security is the users themselves. People believe nothing of value resides on their device, yet much can be used for identity theft, intellectual property theft or espionage. Everyone likes these devices for the immediacy and convenience, and don’t want to be bothered with security barriers, especially passwords. This is why many users deactivate the password protection, which to begin with is very rudimentary and requires only a four-digit PIN identification. In a regular notebook, that would never be accepted as security. To learn more, read the article “Mobile insecurity” in the September 2011 CAmagazine online.

The "cloud" and what it can do for your business

When someone talks about joining “the cloud” are you puzzled? What is it, what does it do and what does it mean for the future? Some believe the cloud is a major step in the evolution of the Internet. Others say that, without a doubt, cloud computing will play a huge role in the design, reliability and speed of corporate websites. Many are convinced that, within the next five to six years, most computing services will be delivered from the cloud. Still, for many small business enterprises, cloud computing is an abstract concept. To learn more, read the article "Still foggy on cloud computing?" in the September 2011 issue of CAmagazine online. 

The World is Changing – Reporting Must Too

The Integrated Reporting Discussion Paper, Towards Integrated Reporting – Communicating Value in the 21st Century was launched on September 12, 2011. It is available for reading online and as a PDF document. The Paper considers the rationale for Integrated Reporting, offering initial proposals for the development of an International Integrated Reporting Framework and outlining the next steps towards its creation and adoption. Its purpose is to prompt input from all those with a stake in improved reporting, including producers and users of reports. The International Integrated Reporting Committee (IIRC) welcomes general comments on the Discussion Paper, as well as responses to the questions posed. The deadline for submission is December 14, 2011.

PwC – 10 Minutes on the CEO agenda

PwC research has found that CEOs across the globe are redefining what growth looks like in a post-crisis world. Companies are reshaping their strategies and operating models—focusing on issues like talent, innovation and collaboration—to find new sources of revenue growth and competitive advantage. There are eight key questions leaders can ask— about where and how to change—to ready their businesses for the road ahead. Read the PwC March 2011 publication Growth reimagined: The eight questions every CEO should ask about getting—and staying—ahead.

Corporate Sustainability: A progress report

Corporate Sustainability: A progress report is a KPMG research report, conducted in cooperation with the Economist Intelligence Unit. It reviews the importance of sustainability within business today and executive attitudes toward this issue. According to the report, sustainability is rapidly becoming a strategic priority for businesses.

Around the world, there are encouraging examples of pioneering companies that have recognized the imperative of sustainability and created strategies and solutions. For a growing number, the concept of sustainability goes far beyond corporate social responsibility (CSR). It has become the strategic lens through which they view their businesses. For these organizations, sustainability offers an undeniable opportunity to gain competitive advantage, drive innovation and generate real bottomline results. Despite a complex array of challenges, these companies are already taking great strides towards shaping the global approach to sustainability. What propels these organizations past their competitors is the recognition that sustainability goals must be tied to operational strategy and measured in the same way as other investments. By treating sustainability as an investment rather than a cost, they have adjusted their business models to drive long-term change and make them more competitive in the market. 

This research report is based on an October 2010 global survey of 378 senior executives encompassing a range of industries and evenly split among North America (US and Canada), Asia Pacific and Europe, with a smaller representation from the Middle East, Africa and Latin America. Organizations of all sizes were represented: 40% of respondents worked for firms with revenues of at least US$ l billion, whereas 47% were from firms with revenues of US$ 500 million or less. The respondent base was very senior: 26% were CEOs, presidents or managing directors of their firms; half represented the C-suite or board; and all respondents were in a management position. To complement this and to provide specific context, the Economist Intelligence Unit conducted extensive desk research and in-depth interviews with numerous corporate sustainability executives and experts.

The Top Ten Tech Issues

The Canadian Institute of Chartered Accountants (CICA) Information Technology Advisory Committee conducts an annual survey of the most important IT issues facing the profession, which provides interesting insight into the prevalence and impact that technology has on businesses. While some topics come up every year, the relative importance of several issues changes from survey to survey.

This year was no different. Information management rose to the top spot from No. 3, pushing last year’s No. 1 issue, legislation and regulatory compliance, to second place. The impact of the recession, No. 2 last year, fell to No. 10 in this year’s survey, while new and emerging technologies rose to No. 3 from No. 5. (To learn more, read the article "The Top Ten Tech Issues" in the September 2011 CAmagazine online.)