Integrated reporting o disintegrated reporting? A theoretical analysis for an empirical proposal of real integration
Based on a theoretical approach, this study aims to contribute to the academic debate on non-financial communication. The research questions are aimed at identifying possible limits of the current development process of corporate communication. We carried out a reasoned analysis of the regulatory evolution, supported by the references adopted by the Italian doctrine. Subsequently, in order to extend the study to international literature, we developed an analysis of literature reviews on integrated reporting. The results show that the development process of integrated reporting has so far led to only partial integration and to the establishment of inappropriate dichotomies and separations between financial and non- financial reporting. The goal of providing information in a more systematic way has only been partially achieved, while integration has sometimes resulted in a proliferation of divergent, unfocused and unrelated information. The article provides a first proposal for the future integration of information within the financial statement in a way that makes the social dimension of the corporate activities more visible, while at the same time better integrating it with the financial dimension. Therefore, the study offers suggestions to both regulators and practitioners on how to design integrated reporting. The theoretical nature of the research could be its main limitation. Future developments will focus on more empirical/quantitative insights.
Keywords: Integrated reporting, Limits, Value Creation, (Dis)integrated reporting, Accountability
