International Federation of Accountants (hereinafter - IFAC) approved the use of integrated reporting. It was stressed in its document “Improving of the organizational reporting: key aspects of integrated reporting” that integrated reporting to be a way to achieve more coherent system of corporate reporting through the transparent algorithm of actions of preparation of the individual reports. According to IFAC experts, integrated reporting allows to reflect a complete picture of activity of organization and create business value in the long term.

International Federation of Accountants added that it supports all the initiatives of the International Integrated Reporting Council and its proposed conceptual framework of integrated reporting. Experts believe that integrated reporting can serve as an umbrella for large enterprises, protecting against potential risks and bringing together financial and non-financial information. Its use provides transparency of activities of any organization.

It should be recalled that integrated reporting is the process of collection, consolidation and analysis of quantitative and qualitative performance of the company during the reporting period in preparation for the integrated report. This process is based on the concept of “integrated thinking” reflecting possibility of organization to create value over the long term.

The integrated report provides to a wide range of stakeholders acting as its users the idea of relationships and non-financial performance of the company during the reporting period through the prism of the current business model and strategy of the organization and also provides information on development plans and goals for the future.

Integrated reporting at its core is a management tool that allows collecting, monitor and provide to interested parties the information about the effectiveness of the company activity including social, economic and environmental aspects. Valuation of these parameters in terms of value gives a more complete picture of the activities of the market entity.