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    Integrated Reporting in Australia

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    Research topic: Integrated Reporting in Australia In December 2016, CPA Australia issued the following report, “AN EXPLORATION OF THE INFORMATION NEEDS OF SELECTED STAKEHOLDERS OF INTEGRATED REPORTING”(CPA, 2016). This report provided a summary of research undertaken which explored the information needs of company stakeholders and their perspectives on integrated reporting (CPA, 2016). The objectives of the study were: 1. to explore what stakeholders claim they need and expect from the anintegrated report; 2. to assess the level of alignment between stakeholders’ expectati...

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    The role of the International Integrated Reporting Committee or IIRC

    Integrated Reporting or IR is a succinct correspondence about how an institution or a company’sprocedure, governance, implementation, and scope that tells us about the performance of thecompany in given time periods. We may know that the International Integrated ReportingCommittee (IIRC) which was previously referred to as the International Integrated ReportingCommittee largely promotes this ideology. It was shaped in August 2010 and means to make anall-inclusive acknowledged structure for a practice that concludes in correspondences by anengagement regarding value creation during a phase of time.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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