The <IR> Framework has seven guiding principles. The fifth guiding principle articulates the importance of presenting information that is concise.
What is a concise report?
When drafting your integrated report, you face a difficult balancing act. You must include sufficient information to satisfy your stakeholders, but too much information can overwhelm your reader and make the report difficult to use
A concise report is one that only includes the most pertinent information in an easily digestible format. When applied correctly, the concise principle demonstrates
What does the framework say?
The framework says that an integrated report:
“must be concise and include sufficient context to understand the organisation’s strategy, governance, performance and prospects without being burdened with less relevant information”
Reconsider including full financial statements – rather include summarised financial statements and narrative on financial highlights and challenges. Standard Bank’s 2017 integrated report record their financial information in the form of a financial review. Their annual financial statements are referenced in a separate document.
Before including a full governance report, consider including links to other, more detailed and specialised reports outside the integrated report. For example, refer to Barclays Africa Group Limited’s 2017 integrated report.
Before including details on projects that might not be considered material,
Instead of repeating information, use internal
If you require further guidance on reporting concisely, contact Alchemy Creative Studios: email@example.com
This is the fifth article in a series of seven relating to the <IR> Framework guiding principles. Return to our blog to read more on these principles.
For more reading on conciseness refer to https://www.fm-magazine.com/news/2017/dec/managing-the-length-of-annual-reports-201717989.html.