The key insights of the more recent research (“Business Reporting Recommendations from Key Leaders”) are interesting:
• The primary responsibility of directors is performance Big Fat Finance, not compliance.
• Organizations should expand their view from a shareholder perspective to a stakeholder perspective.
• Organizations should take economic as well as social and environmental performance factors into account.
• Organizations should better integrate governance and sustainability into [corporate] strategy, operations, and stakeholder communications.
• Organizations should further improve their stakeholder communications.
Here is an overview of the report. ###
Twenty-five senior corporate finance executives from around the world address these questions in recent research from the International Federation of Accountants (IFAC).
What is the “financial reporting supply chain” and how can it be better managed in the wake of the global financial crisis?
The postcrisis analysis follows a 2008 IFAC report that defines and examines the financial reporting supply chain.
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