The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) has issued guidance on effective business reporting processes.
The guidance, Principles for Effective Business Reporting Processes, is directed at organisations of all sizes or structure, public or private, to support high-quality reports for internal and external shareholders.
"An organisation’s sustainable success depends on the support of stakeholders and the quality of their decision making. High-quality reporting is essential to both, and needs effective business processes to deliver it," PAIB Committee chair Roger Tabor said.
PAIB Committee’s business reporting task force chair Karyn Brooks added the guidance "covers the primary issues professional accountants in business should address in implementing effective reporting processes in their organisations."