Figure 1
Figure 2
List of differences as to the approach to drawing up a financial statement and an integrated report
| Issue | Financial reporting | Integrated reporting |
|---|---|---|
| Responsibility for the capital | Financial capital | All kinds of capitals |
| Mindset | Isolation of individual departments | Integration of individual departments |
| Timeline | Short-termism | Short-, medium-, long-termism |
| Focus of interest | Financial issues from the past | Strategic issues concerning the past and future |
| Building trust through transparency | Limited trust caused by narrow disclosure | Greater trust caused by greater transparency |
| Adaptation of report | Close connection with standards in force | Individual approach corresponding to specific |
| conditions of an entity’s operation | ||
| Conciseness | Long and complex | Concise and covering essential issues |
| Use of technology | Primarily using “paper” | Using new technologies |