Integrated reporting builds on the existing financial reporting model to incorporate non-financial information that can help stakeholders (internal and external) understand how a company creates and sustains value over the long term. There is no single path to an integrated reporting implementation. However, there are stages in the journey that are common to most companies.
We recently saw that Hertz corp expanded their restatement beyond 2011 to include 2012 and 2013 as well. This announcement sent the stock price down over 9% in a day, down 22% since the first restatement announcement in June. CFOs and CEOs cannot be wrong when it comes to reporting their financials: many company’s financial processes are still prone to errors and inaccuracies.