Corporate Reporting is moving towards Integrated Reporting , which is basically a  concise communication detailing how its strategy, governance, performance and prospects, in the context of its external environment, will lead to a creation of value in the short, medium and long term.  <Integrated Reporting> goes beyond just the financial capital and it is a holistic connecting of dots with regard to 6 capitals that a Corporation uses. These are Manufacturing Capital, Financial Capital, Social  and Relationship Capital, Intellectual Capital, Human Capital and Natural & Environmental Capital and is a concise communication of how the interplay of all these capitals, results in the creation of value. In fact, SEBI has vide a circular issued in February 2017, suggested the adoption of Integrated Reporting for the top 500 Companies, and Companies like Wipro and Tata Steel are already preparing their reports accordingly.

 In short, the future of Corporate Reporting clearly points towards <Integrated Reporting>.

 There is an apex body called the International Integrated Reporting Council, based out of U.K. and chaired by the doyen and luminary of Corporate Governance, Judge Mervyn King (who incidentally inaugurated our Centre for Corporate Governance and Citizenship in 2003), where  the concept, principles, framework of and its implementation are being ideated and advocated .

 IIMB-CCGC has just been selected to become a member of the Oversight Body of  IIRC Academic Network. The process of selection involved  submitting a written application, followed by a series of interviews on Skype/Internet and telephone and culminated in a personal meeting in Milan-Italy of the IIRC management and Professor Padmini Srinivasan. She will lead the academic initiatives with IIRC and Manoj Chakravarti (COO-IIMB-CCGC) will pursue its advocacy.