In an ever-changing global world, where responsible investors are no longer only interested in companies’ profitability, reporting on non-financial aspects such as human rights, an organisation's impact on the environment and governance and strategic issues, has become increasingly important. Preparing future business leaders should, therefore, include exposure to these aspects.
For two weeks, eight international students got exposure to this important field in the Advanced Accounting module. The discussions ranged from the best international frameworks to use for non-financial reporting to how organisations can use the International Integrated Reporting Framework <IRF> and showing how SAP (German-listed Company) and SAPPI (South African
Listed Company) applies integrated reporting and integrated thinking in their non-financial reporting endeavours.
Students were also awarded the opportunity to analyse eight different JSE listed companies, which received top achievers’ awards from the E&Y Integrated Reporting Awards. The companies, ranging from telecommunication companies, banking institutions and mining companies, allowed the students to realise how companies in different industries approach non-financial reporting, and how each company can decide what non-financial information to report on based on their strategic objectives, stakeholders and what the board of directors deem to be material.
The multi-national insights into non-financial aspects companies can report exposed the students to a multi-disciplinary approach to financial and related reporting. Students also came to realise that true corporate reporting, is about more than just the bottom line (profit) but needs integrated thinking and consideration of all stakeholders of an organisation, contributing to the success of this module. It was truly a successful experience.