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Integrated Thinking for Business Leaders and State Institutions by int’l experts at CMA Conference


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CMA Global Management Accounting Conference on the theme ‘Integrated Reporting – Future of Corporate Reporting’ is a must for corporate leaders including chairmen, directors, CEOs, CFOs and those engaged in the preparation of Integrated Reporting in both the private and public sector. The session on ‘Integrated Thinking’ will have experts from ACCA UK, CIPFA UK, CPA Canada speaking on the important aspects of integrated thinking and its connectivity with integrated reporting followed by a panel discussion. The conference will be held on 5 July at Cinnamon Lakeside where the keynote address will be delivered by International Federation of Accountants (IFAC) President Rachel Grimes.  

The International Integrated Reporting Framework defines integrated thinking as the active consideration by an organisation of the relationships between its various operating and functional units and the capitals that the organisation uses or affects. Integrated thinking leads to integrated decision making and actions that consider the creation of value over short, medium and long term. The Framework emphasises that effective integrated reporting is dependent upon an organisations ability to successfully implement integrated thinking.  

An integrated report is a concise communication about how an organisation’s strategy, governance, performance and prospects, in the context of its external environment, lead to the creation of value over the short, medium and long term. Integrated thinking is the active consideration by an organisation of the relationships between its various operating and functional units and the capitals that the organisation uses or affects. Integrated thinking leads to integrated decision-making and actions that consider the creation of value over the short, medium and long term.

How Integrated Reporting can lead to Integrated Thinking will be delivered by Yen – Pei Chen Integrated Reporting Subject Matter Expert – Professional Insights, ACCA UK

ACCA’s work on the Insights into Integrated Reporting series have found evidence that integrated reporting can have concrete decision-making benefits for CFOs and business leaders. A well-implemented integrated reporting process can lead to effective strategic planning, risk management, investment appraisal and management reporting. This presentation explores how integrated reporting interacts with integrated thinking, through interview comments, best practice report excerpts and case studies from participants in the IIRC’s <IR> Business Network.

Integrated Thinking and Reporting – Focusing in Value Creation in Public Sector will be delivered by Gillian Fawcett, Head of International CIPFA (UK) the Public Sector Professional Accounting Body

In an age of globalisation and in some countries time and resource constraints, public sector organisations need ways of broadening the conversation about the services they deliver and the value they create, not only to meet short term demands but for the medium and longer term. Integrated Reporting is a model for achieving this and for promoting trust and confidence with key stakeholders. 

Traditional reporting frameworks, focused only on historical financial information, are not fit for purpose for modern, multi-dimensional public sector organisations. <IR> is shaped by a diverse global coalition of stakeholders that are driving a global evolution in reporting that supports sustainable development and financial stability.

The final presentation on Integrated Thinking – Canadian Experience will be delivered by Gordon Beal Vice-President, Research, Guidance and Support CPA (Canada)

In this publication ‘Spotlight on integrated reporting‘, CPA Canada sets out the current innovation and trends in corporate reporting and how companies can take advantage of them. It looks at the key questions that should be answered by corporate reporting and how the International <IR> Framework can support this.

Spotlight on Integrated Reporting COMMUNICATING VALUE CREATION TO CAPITAL MARKETS published by CPA Canada are given below. The Spotlight series highlights important developments shaping the future of corporate reporting and how companies can take advantage of them.

Integrated Reporting: Explaining how your company’s business model, strategy, governance and risk management lead to ‘value creation’ over time.

Is your company communicating effectively all the relevant information investors need to evaluate its prospects and understand how it creates value? Is it possible to present this information in a more complete, concise and connected way?

The Issue - Fragmented Reporting. The many mandatory and voluntary disclosures companies make today have evolved piecemeal over the years without the benefit of an overall framework to connect them. The result is a mosaic of information from which it can be difficult to discern the full scope of factors that drive and explain a company’s performance and illuminate its future prospects for value creation. 

The Questions — Some Questions to Be Answered by Corporate Reporting Understanding how a company creates value is a central consideration in the decision-making of reasonable investors, especially institutional investors with long-term investment horizons.

Forward-looking C-suite executives and boards of directors regularly address and rethink critical questions such as the following:

 1. What does our company do? What business are we in? 

2. What is our business model for creating value now and over the longer term? How dependent are we on supply chains, brand value and innovation?

Those interested to register for the Global Management Accounting Conference please contact Shanthi on 071 4705536 or email: registrations@cma-srilanka.org.


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