[ German Working Group "Linking Intellectual Capital and Integrated Reporting" ]
The aim of the working group - initiated by "Gesellschaft für Wissensmanagement" (GfWM.de) -
is to link new developments in the field of Integrated Reporting (theIIRC.org)
and Intellectual Capital Reporting (akwissensbilanz.org).
Growing into the "knowledge economy", intangible assets gain relative importance. Innovation, access to cutting edge knowledge and information
or an educated workforce to name only a few drivers, have turned out to have more influence for the long term success of an organization than their financial
and tangible assets (Studie Wissensstandort Deutschland).
Hence, management and reporting of "Intellectual Capital" such as human capital, relational capital, quality and innovation as well as social responsibility
- all of which are intangible assets - gained awareness and influence.
Traditionally, accounting and reporting functions of organizations had one dominant target group: investors, which were addressed by financial reports.
But these reports hardly cover information about intangibles. This information asymmetry is a source of possible errors in assessing risks
and future developments of an organization and consequently can lead to misallocation of investments (Alwert/Bornemann/Will 2009).
With the recognition of substantially diverse stakeholders, book shelves of highly specialized reports with partially redundant data
but diverse interpretations were published. Tremendous expertise in honing distinct pieces of news is invested, but increasingly fails to deliver a coherent message.
This is our rational to call for an integrated reporting approach.
Integration of all efforts would benefit from the best intelligence available and help to support the one core product of management:
good decisions. It is our ambition to support decision makers with such an approach. Linking the experience in Intellectual Capital Reporting and
Integrated Reporting, can support this goal.
[ Authors ]
Dr.-Ing. Kay Alwert,
Schnauffer, ThyssenKrupp AG
[ Links ]
Paper: "Comments on the discussion paper
TOWARDS INTEGRATED REPORTING - Communicating Value in the 21st Century"
Paper: EIASM 2012
"Integrated Reporting and Integrated Thinking - A Resource oriented Perspective"
Research Study of the German Bank: Mehr Wertschöpfung durch Wissen(swerte)
Corporate Reporting of Intangible Assets: A Progress Report