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”Connectivity of information" as a key principle of integrated reporting
Integrated reporting is a response to the increasing number of reports and pieces of information that in particular capital market oriented companies publish to meet statutory reporting requirements or expectations by their stakeholders. According to the <IR> Prototype Framework of the IIRC, ”connectivity of information" is a key principle of integrated reporting. It can be considered as the main innovation that integrated reporting entails. This article therefore focuses on this new principle of corporate reporting and analyses the reporting practice of BASF, which has developed its own approach to integrated reporting and is often cited as a best practice example.
1. Introduction
Ever new regulations and increasing expectations of investors and other stakeholders have resulted in a proliferation of corporate reports being prepared mandatorily or voluntarily in recent years. But not only the number of reports (e.g. corporate governance reports, remuneration reports, sustainability reports, reports to supervisory bodies etc.) has increased, also the volume of information disclosed in them has grown substantially. While corporate reporting did not go beyond financial information for a...