You work for a medium sized but fast growing accounting practice as a graduate. The partners
have tasked you with writing a report which provides them with the information necessary to
determine whether and to what extent they should engage with ‘Integrated Reporting’ with a view
to providing clients advice in this area. The partners are aware that integrated reporting is a
growing area of interest but some are unsure of what it really means or how to go about using it
to help their clients.
The partners have varying opinions on the matter. One of the partners, Jimmy Chung, is
particularly keen on the idea and believes that it would give them a competitive advantage,
enable them to be seen as a rounded “full-service” practice and that it is an important way for
them to make a real, positive contribution to clients’ businesses and the broader community of
Another partner Deepak Shami thinks it could be an expensive exercise that would add little to
the success of the practice. He believes that the practice should focus on its core businesses of
tax, auditing and advisory services and not worry about “gimmicks”. He said “This is just a fad
that will disappear in a few years, and we should not waste resources investing in it”.
The partners want recommendations that they can discuss at their next board meeting. The
board includes lawyers and other specialists (non-accountants) as well as the partners
(accountants). They have requested you to make sure that your report contains (but is not
necessarily restricted to) advice or responses to the following aspects:
1. The background to and meaning of integrated reporting.
2. Arguments for and against focusing on integrated reporting; What are the costs and benefits of
3. Assuming integrated reporting is chosen as a viable option - How should this new area be
marketed to clients? What exactly are the types of services that might be offered; What are the
type of skills and training the staff employed in it would require?
4. Should the accounting practice consider embedding integrated reporting policies more firmly in
its own business? (as well as advising clients on the issue) Explain your reasoning.
You are aware of some excellent literature on integrated reporting that you will also incorporate in
this report. You can include any information in the report which you think will assist them to make
this important decision. You must use at least ten resources to inform your discussion. The library
databases will provide many useful journal
articles on this topic. Remember that although many Australian companies are keen to engage
with integrated reporting they are unsure of what it really means or how to implement it in their
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