Integrated Reporting and Implications for Accounting Curriculum in Nigeria

Abstract

Integrated reporting (<IR>) has been promoted by influential international organisations as the communication vehicle that provides concise, future-oriented and strategically relevant information and integrates financial, social and environmental elements to providers of the capitals and other interested parties. Increasing adoption of <IR> globally envisages significant implications for accounting education and the accounting curriculum, for both professional and academic training necessary for the “new” corporate reporting protocol. This paper reviews integrated reporting literature to access the principles and frameworks and outputs articulated by these influential organisations. In view of the suggested reporting outcomes, fundamental guiding principles and the main components of an integrated report, it is envisaged that the “new” accounting curricula would focus more on the longer-term than the shorter-term, more on corporate strategic outlook than operational or transactional processes; more prospective rather than retrospective analysis and reporting on wider business performance metrics than on narrower external financial reporting data or audit compliance. While leading global professional accountancy bodies (e.g., ACCA & CIMA) have already fully incorporated integrated reporting principles within their curriculum at the professional level, only few universities outside Nigeria have incorporated integrated reporting principles or learning outcomes within their existing curriculum. The paper calls on Accounting Departments of universities to incorporate <IR> principles into their course offerings.

Keywords: Accounting Curriculum, Nigeria, Social Responsibility, Stakeholder Engagement, Sustainability, integrated reporting

Unique Article ID: https://doi.org/10.37745/ejaafr/vol8.no4.pp18-37.2020
Article Review Status: Published

Pages: 18-37 (Download PDF)

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