Yes / This paper examines trends in the content of reporting within 135 UK Higher Education Institutions (HEIs). It explores the extent to which Integrated Reporting (IR) content elements, reflecting integrated thinking, are disclosed voluntarily and whether HEI specific features influence the resulting disclosures. Existing IR guidelines given by the International Integrated Reporting Council (IIRC) and the adoption of content analysis have provided the opportunity to examine the trend and extent of IR content elements associated in HEI corporate reports. The evidence was obtained from 405 UK HEI annual reports covering the period 2014-2016. The results indicate a significant increase in the number of IR content elements embedded in HEI annual reports. The HEI specific characteristics examined, such as a) the establishment of HEI (before or after 1992), b) adoption of IR framework and c) size of HEI, are all significantly and positively associated with IR content elements disclosure. This paper argues that institutional theory, isomorphism and isopraxism are relevant for explaining the changes in the contents of HEI annual reports. The findings also suggest that universities are beginning to adopt an integrated thinking approach to the reporting of their activities. The study is based on IR content elements only and could be extended to include the fundamental concepts and basic principles of the IR framework. There are other factors that have a potentially crucial influence on HEI core activities (such as teaching and learning research and internationalisation) which have been omitted from this study. The findings will allow policymakers to evaluate the extent to which integrated thinking is taking place and influencing the UK HEI sector in the selection and presentation of information. A further implication of the findings is that an appropriate a sector-wide enforcement and compliance body, for instance, the British Universities Finance Directors Group (BUFDG), may consider developing voluntary IR guidance in a clear, consistent, concise and comparable format. Also, it may pursue regulatory support for this guidance. In doing so, it may monitor the compliance and disclosure levels of appropriate IR requirements. Within such a framework, IR could be used to assist HEIs to make more sustainable choices and allow stakeholders to better understand aspects of HEI performance. The research has implications for society within and beyond the unique UK HEI sector. Universities are places of advanced thinking and can lead the way for other sectors by demonstrating the potential of integrated thinking to create a cohesive wide-ranging discourse and create engagement among stakeholder groups. Specifically, IR builds on the strong points of accounting, for instance, robust quantitative evidence collecting, relevance, reliability, materiality, comparability and assurability, to explain the sustainability discourse into a ‘‘language’’ logical to HEIs organisational decision-makers. Consequently, IR may generate better visibility and knowledge of the financial values of exploiting capitals (financial, intellectual, human, manufactured, social, and natural) and offer a multifaceted approach to reassess HEIs organisational performance in various sectors that support the growth of integrated thinking.

O Relato Integrado é a estrutura de divulgação que reúne informações financeiras, ambientais, sociais e de governança em um formato claro, conciso, consistente e comparável, de modo a entender o processo de geração de valor da organização ao longo do tempo. Em 2011, diversas organizações aderiram ao Projeto Piloto do IIRC e, em 2013, foi lançada a Estrutura Conceitual para Relato Integrado, que tem sido referência para a geração do mesmo. O objetivo geral deste trabalho é verificar de que forma algumas empresas participantes deste Projeto Piloto do IIRC divulgaram os elementos de conteúdo propostos pela Estrutura Conceitual para Relato Integrado nos seus documentos de 2013 e 2014. Para tanto, foi realizada a análise de conteúdo dos Relatos Integrados de 2013 e 2014 das empresas Itaú Unibanco e Natura, de modo a verificar quais e como foram divulgados os elementos de conteúdo (categorias) e os itens de elementos de conteúdo (subcategorias) pelas duas empresas, tecendo comparações entre os dois anos. Para o complemento das análises, foram realizadas entrevistas com profissionais envolvidos na geração do Relato Integrado dentro de cada empresa. Trata-se de uma pesquisa de campo, na qual foram empregados os procedimentos de pesquisa documental e entrevistas. Dentre os resultados, são percebidas, de 2013 para 2014, evoluções na apresentação de quantos e como foram divulgados os elementos de conteúdo do Relato Integrado nas duas empresas. Destaca-se, por exemplo, a divulgação de Governança e Estratégia e Alocação de Recursos na Natura, que apresentou todos os itens propostos dentro dos referidos elementos de conteúdo. No Itaú, o elemento de conteúdo que teve maior crescimento numérico de itens divulgados foi Governança. Quantitativamente, as duas empresas ou mantiveram o mesmo ou aumentaram o número de subcategorias divulgadas de um ano para o outro. No geral, os principais pontos de evolução no Relato Integrado do Itaú Unibanco de 2013 para 2014 observados são: maior completude, maior concisão na apresentação das informações, expansão do conteúdo do Relato Integrado através de uma maior conexão com informações de outros relatórios, detalhamento da gestão da empresa, a abordagem da visão mais de longo prazo, maior percepção do engajamento da alta administração na produção do relatório, melhoria na divulgação dos processos de governança e ampliação de quase todas as partes do Relato Integrado. Na Natura, pode-se destacar a Visão de Sustentabilidade da empresa que melhorou diversos aspectos do Relato Integrado, entendimento mais fácil em relação ao ano anterior, mais assertividade na comunicação, um maior foco nos temas materiais e na gestão de riscos e uma visão mais integrada dos diversos públicos da empresa. Para estudos futuros, sugere-se a ampliação da amostra e do período de análise para verificar o alcance efetivo dos objetivos a que se propõe o Relato Integrado. / Integrated reporting is the disclosure framework that brings together financial, environmental, social and governance issues in a clear, concise, consistent and comparable format in order to understand the process of organization value creation overt time. In 2011, several organizations joined the IIRC Pilot Project and, in 2013, the Conceptual Framework for Integrated Reporting was issued, which has been reference for generating the same. The purpose of this study is to verify how some companies engaged in this IIRC Pilot Project released the content elements proposed in this Conceptual Framework on their 2013 and 2014 Integrated Reports. Therefore, it was carried out the content analysis of the 2013 and 2014 Integrated Reports from Itaú Unibanco and Natura, in order to verify what and how it was disclosed the content elements (categories) and items of content elements (subcategories) by these two companies, making comparisons over the two years. To complement this analysis, interviews were conducted with professionals involved in the implementation of the Integrated Reporting within each company. This is a field research, in which the documentary research and interview procedures were applied. The results indicate changes from the 2013 to 2014 Integrated Reports in terms of how many and how the Integrated Reporting content elements were disclosed in the two companies. Noteworthy, for example, the disclosure of Governance and Strategy and Resource Allocation in the Natura\'s report, which presented all the items proposed in those content elements. In the Itaú\'s report, content element that had greater numerical growth of items disclosed was Governance. Quantitatively, the two companies or continued the same or increased the number of subcategories disclosed over the two years analyzed. Overall, the main points of progress observed on Itaú Unibanco Integrated Reporting from 2013 to 2014 are: greater completeness, more concise presentation of information, expansion of the content of the Integrated Reporting through greater connection with information from other reports, detailing of the company management, the approach of a more long-term vision, greater awareness of senior management engagement in the production of the report, improved disclosure about the governance processes and the expansion of almost all parties of the Integrated Reporting. In Natura\'s report, it is possible to highlight the company\'s Sustainability Vision, which has improved several aspects of the Integrated Reporting, easier understanding in comparison with the previous year, more assertiveness in communication, a greater focus on material issues and on risk management and a more integrated view of the several stakeholders of the company. For future studies, it is suggested the expansion of the sample and the analysis period to verify the effective achievement of the objectives proposed in the Integrated Reporting.

O Relato Integrado é a estrutura de divulgação que reúne informações financeiras, ambientais, sociais e de governança em um formato claro, conciso, consistente e comparável, de modo a entender o processo de geração de valor da organização ao longo do tempo. Em 2011, diversas organizações aderiram ao Projeto Piloto do IIRC e, em 2013, foi lançada a Estrutura Conceitual para Relato Integrado, que tem sido referência para a geração do mesmo. O objetivo geral deste trabalho é verificar de que forma algumas empresas participantes deste Projeto Piloto do IIRC divulgaram os elementos de conteúdo propostos pela Estrutura Conceitual para Relato Integrado nos seus documentos de 2013 e 2014. Para tanto, foi realizada a análise de conteúdo dos Relatos Integrados de 2013 e 2014 das empresas Itaú Unibanco e Natura, de modo a verificar quais e como foram divulgados os elementos de conteúdo (categorias) e os itens de elementos de conteúdo (subcategorias) pelas duas empresas, tecendo comparações entre os dois anos. Para o complemento das análises, foram realizadas entrevistas com profissionais envolvidos na geração do Relato Integrado dentro de cada empresa. Trata-se de uma pesquisa de campo, na qual foram empregados os procedimentos de pesquisa documental e entrevistas. Dentre os resultados, são percebidas, de 2013 para 2014, evoluções na apresentação de quantos e como foram divulgados os elementos de conteúdo do Relato Integrado nas duas empresas. Destaca-se, por exemplo, a divulgação de Governança e Estratégia e Alocação de Recursos na Natura, que apresentou todos os itens propostos dentro dos referidos elementos de conteúdo. No Itaú, o elemento de conteúdo que teve maior crescimento numérico de itens divulgados foi Governança. Quantitativamente, as duas empresas ou mantiveram o mesmo ou aumentaram o número de subcategorias divulgadas de um ano para o outro. No geral, os principais pontos de evolução no Relato Integrado do Itaú Unibanco de 2013 para 2014 observados são: maior completude, maior concisão na apresentação das informações, expansão do conteúdo do Relato Integrado através de uma maior conexão com informações de outros relatórios, detalhamento da gestão da empresa, a abordagem da visão mais de longo prazo, maior percepção do engajamento da alta administração na produção do relatório, melhoria na divulgação dos processos de governança e ampliação de quase todas as partes do Relato Integrado. Na Natura, pode-se destacar a Visão de Sustentabilidade da empresa que melhorou diversos aspectos do Relato Integrado, entendimento mais fácil em relação ao ano anterior, mais assertividade na comunicação, um maior foco nos temas materiais e na gestão de riscos e uma visão mais integrada dos diversos públicos da empresa. Para estudos futuros, sugere-se a ampliação da amostra e do período de análise para verificar o alcance efetivo dos objetivos a que se propõe o Relato Integrado. / Integrated reporting is the disclosure framework that brings together financial, environmental, social and governance issues in a clear, concise, consistent and comparable format in order to understand the process of organization value creation overt time. In 2011, several organizations joined the IIRC Pilot Project and, in 2013, the Conceptual Framework for Integrated Reporting was issued, which has been reference for generating the same. The purpose of this study is to verify how some companies engaged in this IIRC Pilot Project released the content elements proposed in this Conceptual Framework on their 2013 and 2014 Integrated Reports. Therefore, it was carried out the content analysis of the 2013 and 2014 Integrated Reports from Itaú Unibanco and Natura, in order to verify what and how it was disclosed the content elements (categories) and items of content elements (subcategories) by these two companies, making comparisons over the two years. To complement this analysis, interviews were conducted with professionals involved in the implementation of the Integrated Reporting within each company. This is a field research, in which the documentary research and interview procedures were applied. The results indicate changes from the 2013 to 2014 Integrated Reports in terms of how many and how the Integrated Reporting content elements were disclosed in the two companies. Noteworthy, for example, the disclosure of Governance and Strategy and Resource Allocation in the Natura\'s report, which presented all the items proposed in those content elements. In the Itaú\'s report, content element that had greater numerical growth of items disclosed was Governance. Quantitatively, the two companies or continued the same or increased the number of subcategories disclosed over the two years analyzed. Overall, the main points of progress observed on Itaú Unibanco Integrated Reporting from 2013 to 2014 are: greater completeness, more concise presentation of information, expansion of the content of the Integrated Reporting through greater connection with information from other reports, detailing of the company management, the approach of a more long-term vision, greater awareness of senior management engagement in the production of the report, improved disclosure about the governance processes and the expansion of almost all parties of the Integrated Reporting. In Natura\'s report, it is possible to highlight the company\'s Sustainability Vision, which has improved several aspects of the Integrated Reporting, easier understanding in comparison with the previous year, more assertiveness in communication, a greater focus on material issues and on risk management and a more integrated view of the several stakeholders of the company. For future studies, it is suggested the expansion of the sample and the analysis period to verify the effective achievement of the objectives proposed in the Integrated Reporting.

South Africa is facing a water crisis in terms of the scarcity and the quality of its water. Considering this water-constrained future it is evident that companies in South Africa should pay attention to the pristine management of this scarce resource. The purpose of this study is to evaluate the reporting and disclosure requirements of water of Socially Responsible Investment-indexed (SRI) JSE-listed companies. The disclosure requirements of the integrated report, King III, the Global Reporting Initiative and the Association of Chartered Certified Accountants, provided the theoretical background to develop a water disclosure index. Content analysis was used as the research method to analyse the integrated and sustainability reports of a selected group of SRI indexed JSE-listed companies. The results were analysed in terms of the disclosure on items such as materiality, governance, corporate policies, environmental management systems, risk assessments and key performance indicators. The findings of the study include that most of the companies illustrate commitment towards water stewardship by reporting on water-related aspects. The mining sector rated the highest on disclosure and reporting of water-related aspects by providing the most detailed descriptions by indicating that they clearly understand the context of their operations and the associated risks. In the process of analysing the integrated and sustainability reports with specific reference to the key performance indicators, it was evident that companies lack comparability and consistency in their disclosure. It is recommended that companies improve the relevance, depth and clarity of their disclosure on water. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015

Climate change is undoubtedly a serious challenge facing the world today, and as a result the preservation of the environment is at the top of the agenda for the international community and national governments. Integrated reporting is a global phenomenon driven by the necessity for better information for shareholders and stakeholders. Sustainability reports in South Africa have gained momentum since King III was released in 2009. The purpose of this study is to determine if Ferroalloy manufacturers disclose their carbon emissions in their integrated reports. A literature study was done and content analysis was used to analyse the integrated reports of Ferroalloy manufacturers. On average the integrated reports of Ferroalloy manufacturers comply 41% according to GRI requirements. Governance related points measured complied on average 51%, while internal standards measured 71%. 86% of organisations make use of external standards to report their emissions on. Direct emissions obtained on average 42% as per GRI G4 requirements, while indirect emissions obtained a score of 50%. Emissions that may occur as a result of the usage of organisations products were reported on at only 11% according to the GRI G4 requirements. / MBA, North-West University, Potchefstroom Campus, 2015

In the past, activities of business were motivated exclusively by the desire to maximize their financial returns and the aim of corporate reports was to provide information about the cash flow, financial position and financial performance of an entity. However, over the past decade, increased awareness of developing accounting-style metrics for nonfinancial business influences has led companies from being profit-driven to taking the triple bottom line approach of incorporating economic, environmental and social values into corporate measures of success. Sustainable enterprises should have honest and full accounting of the impact of its actions and start with a vision that goes beyond producing profits for investors to creating social, economic and cultural value for a wider community of stakeholders. The Global Reporting Initiative (GRI) has published guidelines for sustainability reporting (entitled 'Sustainability Reporting Guidelines') and is seen as the leading standard for voluntary corporate reporting of environmental and social performance by companies and other organizations worldwide. The Sustainability Reporting Guidelines includes Reporting Principles, Standard Disclosures and an Implementation Manual for the preparation of sustainability reports. Given the significance of the financial-services industry in South Africa, this dissertation reflects on the quality of integrated reporting of the financial-services industry by determining the extent to which sustainability reports of financial companies adhere to the GRI Guidelines and the Sector Supplements for Financial Services. An applied, quantitative and descriptive methodology was used to answer the research questions. Using a sample of 10 of the financial-services companies included in the JSE Top 40 companies, the results show that these companies use the GRI Guidelines in producing their sustainability report and that adherence improves annually. Some companies, however, do not apply the Sector Supplements which were designed to include industry-specific influences. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015

South Africa is facing a water crisis in terms of the scarcity and the quality of its water. Considering this water-constrained future it is evident that companies in South Africa should pay attention to the pristine management of this scarce resource. The purpose of this study is to evaluate the reporting and disclosure requirements of water of Socially Responsible Investment-indexed (SRI) JSE-listed companies. The disclosure requirements of the integrated report, King III, the Global Reporting Initiative and the Association of Chartered Certified Accountants, provided the theoretical background to develop a water disclosure index. Content analysis was used as the research method to analyse the integrated and sustainability reports of a selected group of SRI indexed JSE-listed companies. The results were analysed in terms of the disclosure on items such as materiality, governance, corporate policies, environmental management systems, risk assessments and key performance indicators. The findings of the study include that most of the companies illustrate commitment towards water stewardship by reporting on water-related aspects. The mining sector rated the highest on disclosure and reporting of water-related aspects by providing the most detailed descriptions by indicating that they clearly understand the context of their operations and the associated risks. In the process of analysing the integrated and sustainability reports with specific reference to the key performance indicators, it was evident that companies lack comparability and consistency in their disclosure. It is recommended that companies improve the relevance, depth and clarity of their disclosure on water. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015

Climate change is undoubtedly a serious challenge facing the world today, and as a result the preservation of the environment is at the top of the agenda for the international community and national governments. Integrated reporting is a global phenomenon driven by the necessity for better information for shareholders and stakeholders. Sustainability reports in South Africa have gained momentum since King III was released in 2009. The purpose of this study is to determine if Ferroalloy manufacturers disclose their carbon emissions in their integrated reports. A literature study was done and content analysis was used to analyse the integrated reports of Ferroalloy manufacturers. On average the integrated reports of Ferroalloy manufacturers comply 41% according to GRI requirements. Governance related points measured complied on average 51%, while internal standards measured 71%. 86% of organisations make use of external standards to report their emissions on. Direct emissions obtained on average 42% as per GRI G4 requirements, while indirect emissions obtained a score of 50%. Emissions that may occur as a result of the usage of organisations products were reported on at only 11% according to the GRI G4 requirements. / MBA, North-West University, Potchefstroom Campus, 2015

In the past, activities of business were motivated exclusively by the desire to maximize their financial returns and the aim of corporate reports was to provide information about the cash flow, financial position and financial performance of an entity. However, over the past decade, increased awareness of developing accounting-style metrics for nonfinancial business influences has led companies from being profit-driven to taking the triple bottom line approach of incorporating economic, environmental and social values into corporate measures of success. Sustainable enterprises should have honest and full accounting of the impact of its actions and start with a vision that goes beyond producing profits for investors to creating social, economic and cultural value for a wider community of stakeholders. The Global Reporting Initiative (GRI) has published guidelines for sustainability reporting (entitled 'Sustainability Reporting Guidelines') and is seen as the leading standard for voluntary corporate reporting of environmental and social performance by companies and other organizations worldwide. The Sustainability Reporting Guidelines includes Reporting Principles, Standard Disclosures and an Implementation Manual for the preparation of sustainability reports. Given the significance of the financial-services industry in South Africa, this dissertation reflects on the quality of integrated reporting of the financial-services industry by determining the extent to which sustainability reports of financial companies adhere to the GRI Guidelines and the Sector Supplements for Financial Services. An applied, quantitative and descriptive methodology was used to answer the research questions. Using a sample of 10 of the financial-services companies included in the JSE Top 40 companies, the results show that these companies use the GRI Guidelines in producing their sustainability report and that adherence improves annually. Some companies, however, do not apply the Sector Supplements which were designed to include industry-specific influences. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015

Background and problem – As a result of financial crises and the realization of a broader stakeholder network, recent decades have seen an increase in stakeholder demand for non- financial information in corporate reporting. This has led to a situation of information overload where separate financial and sustainability reports have developed in length and complexity interdependent of each other. Integrated reporting has been presented as a solution to this problematic situation. The question is whether the corporate world believe this to be the solution and if the development of corporate reporting is heading in this direction. Purpose - This thesis aims to examine and assess to what extent companies listed on the OMX Stockholm 30 (OMXS30), as per 2016-02-28, comply with the Strategic content element of the <IR> Framework and how this disclosure has developed since the framework’s pilot project and official release by using a self-constructed disclosure index based on its specific items. Methodology – The purpose was fulfilled through an analysis of 104 annual reports comprising 26 companies during the period of 2011-2014. The annual reports were assessed using a self-constructed disclosure index based on the <IR> Framework content element Strategy and Resource Allocation, where one point was given for each disclosed item. Analysis and conclusions – The study found that the OMXS30-listed companies to a large extent complies with the strategic content element of the <IR> Framework and that this compliance has seen a steady growth throughout the researched time span. There is still room for improvement however with a total average framework compliance of 84% for 2014. Although many items are being reported on, there are indications that companies generally miss out on the core values of Integrated reporting.