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Small and Medium-Sized Organisations: Why and How Do They Implement Integrated Reporting?

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Integrated Reporting

Part of the book series: CSR, Sustainability, Ethics & Governance ((CSEG))

Abstract

The chapter addresses the issue of IR implementation and diffusion within SMEs. Among the emerging literature focused on IR, both theoretical arguments and empirical research are almost entirely absent concerning small and medium-sized enterprises. In order to enrich a still under-investigated topic, this work attempts to provide insights and discuss the reasons that can lead an SME to adopt IR and the possible way to reach this goal. After having introduced the theoretical background, the chapter presents the case study that represents a best practice within the Italian context and investigates why and how the selected company decided to perform the journey toward integrated reporting, moving from the corporate social responsibility and sustainability report to the integrated report, as well as the main steps and the current state of the integrated reporting process. Findings point out the positive impact and the importance of some enabling conditions such as: the direct involvement of the top management and entrepreneurial team, the involvement of external consultants in the IR process, and the adoption of a “step by step” approach whose roadmap is spanned throughout several years. Accordingly, the work contributes to enrich the debate on both the benefits and critical issues relative to the diffusion of IR among SMEs, in a research field which has not been adequately investigated. Moreover, it helps in supporting the diffusion of the IR framework among SMEs, practitioners and consultants by emphasizing the opportunities deriving from the implementation of the integrated reporting process.

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Notes

  1. 1.

    “The research that we can classify as second stage identifies that the application and impact of <IR> are fragmented and inconclusive about <IR>’s benefits” (Dumay et al. 2016: 178).

  2. 2.

    The main documents concerning the guidelines published by the European Commission, are the following: European Commission, “Guide to Communicating about CSR”, 2009 European Commission, “Awareness-Raising Questionnaire”, 2005; European Commission, “CSR in Small Businesses: Good Practice Examples”, 2007; European Commission, “Opportunity and Responsibility”, 2007.

  3. 3.

    The GBS is the Italian Study Group set up to establish the GBS Social report drafting standard established in 1998 by entities, associations, universities, companies and certification bodies.

  4. 4.

    WICI Intangibles Reporting Framework—September 2016—www.wici-global.com. The World Intellectual Capital/Assets Initiative has developed a framework to improve the representation of intangibles, in a context of value creation, in direct relation to the international <IR> Framework. www.wici-global.com

  5. 5.

    The EU Directive 2014/95, assimilated by Legislative Decree 254/2016, establishes new minimum reporting standards on environmental and social matters in relation to the management of personnel, with respect to human rights and the combating of active and passive corruption. The directive aims to introduce and reinforce good conduct and has the objective to increase transparency in the communication of non-financial information and increasing investor trust as well as that of the stakeholders in general.

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  1. Department of Economics, Society and Politics, University of Urbino Carlo Bo, Urbino, Italy

    Mara Del Baldo

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  1. Guildhall Faculty of Business and Law, London Metropolitan University, London, UK

    Samuel O. Idowu

  2. Department of Economics, Society and Politics, University of Urbino Carlo Bo, Urbino, Italy

    Mara Del Baldo

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Del Baldo, M. (2019). Small and Medium-Sized Organisations: Why and How Do They Implement Integrated Reporting?. In: Idowu, S.O., Del Baldo, M. (eds) Integrated Reporting. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-030-01719-4_5

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