The development of integrated reporting. The perception of accounting practitioners in Ghana

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.