Abstract:
The evolution of accounting theory has led to the development of ways to
improve corporate reporting with the aim to make corporate reports more
transparent and user friendly to all stakeholders. The main objective of the
study was to determine the development of Integrated Reporting (IR) in
Ghana, among practicing accountants. The study adopted the qualitative
research approach, specifically, the exploratory research design. The findings
of the study revealed that, when it came to general awareness of IR,
accounting practitioners had a limited idea on what the concept is. Another
finding was that, respondents could not make clear distinction between IR and
sustainability reporting. Respondents’ responses revealed that, their lack of
knowledge in the activities of the IIRC and the IR framework hence their
inability to fully interpret and appreciate the meaning and scope of IR. Finally,
the study revealed that, their responses about challenges and benefits of
adopting and implementing IR, stems from their own thoughts, experiences
and competences. The study recommended that the IIRC further articulates
and refines aspects of the framework to give a comprehensive understanding
of the concept of IR. Again, the Institute of Chartered Accountants Ghana
(ICAG) in partnership with other institutions and accounting bodies should
develop a local framework of IR aimed at addressing issues that are specific to
the Ghanaian context. Also, the ICAG should publish relevant issues
pertaining to IR on its website regularly to increase its awareness in the
accounting community. Finally, academic institutions should incorporate IR in
their curricular.
