以下文字节选自历年真题，划线部分为结合案例进行分析的部分，未划线部分为通用文字（需要熟练掌握），考试时结合案例进行具体分析。

Aims of integrated reporting in effective communication

– To improve the quality of information available to financial capital providers, enable them to make a more efficient allocation of capital.    提高信息质量

– To provide a more efficient approach to corporate reporting and communicates the full range of factors that materially affects the ability of an organization to create value over time.提供更有效的公司报告的方法，并传达对组织创造价值的能力产生重大影响的各种因素。

– To enhance accountability of the board regards to the capitals and promote understanding of their interdependencies. 增加董事会的责任意识

– To support integrated thinking, decision-making and actions that focus on the creation of value over short-medium and long-term.支持注重短期和长期价值创造的综合思维、决策和行动。

Role of integrated reporting

The integrated report should be designed to benefit all of our stakeholders who are interested in how we create value over time, including our hotel staff, the hotel customers, local communities where our hotels are located, suppliers and, of course, our investors. Importantly, our ability to create value is linked directly to the value we create for those stakeholders.

The primary role of an integrated report is to improve the quality of information available to our stakeholders, by communicating broader and more relevant information which can assist them in effective decision making, in particular for our investors (however, investors form only a part of this system). Research indicates that investors want broader information which goes beyond pure financial data, similar to the needs of our wider stakeholder groups mentioned above.

The benefits of integrated reporting

– An improved relationship between the company and its investors.

– A greater understanding of the benefits the company can offer to customers and staffs.

– A greater understanding of the company's use and dependence on different ''capitals''. (''Input'')

– A greater understanding of the drivers of the company's performance and value creation

Building relationships with our stakeholders

By providing information which stakeholders need, value and find useful will help us build long-term relationships with these stakeholders. Information which stakeholders would value includes an overall explanation of our business model, how we generate our business and a well-articulated strategy and a clear understanding of our anticipated future opportunities/direction

and risks. Stakeholders could then use this information in many ways, including to help manage investment risk, evaluate the industry dynamics and the regulatory environment and to assess the company’s long-term prospects and stability.

This will be useful for our investors, but would also be important to our staff who are looking for employment stability and future employment prospects. Our local communities will also wish to see our commitment to the local economy in to the future. As a hotel business, we can stimulate local economies by bringing in tourists to the area to spend money in the local economies in which we operate.

Integrated reporting could help us to focus on aspects which materially affect our long-term ability to create value. Through communication to our stakeholders and transparency, the application of integrated reporting allows us to ‘tell our own story’, preventing analysts and external observers (such as the recent newspaper article) from making assumptions on our behalf.

Although institutional investors are largely interested in the financial performance and quantitative key performance indicators of the company, assessing other performance indicators is also likely to play a pivotal role in an investment decision-making process, including wider information for instance, environmental, social and governance issues, which will help investors to assess investment risks more fully.

Reporting on broader areas of value creation is likely to be important to a wide range of stakeholders also, offering an insight into business strategy, performance, governance and prospects, encouraging improved relationships with customers, employees, suppliers and local communities. Stakeholders are able to use integrated reporting information in the following ways:

– Economic analysis: to understand trends and externalities in the industry which could affect the economic outlook and value creation of the company.

– Industry analysis: to understand factors driving competitiveness in the industry and the potential for sustained value creation in an industry.

– Company strategy: to understand management quality and corporate strategy and evaluate our ability to respond to emerging trends in the hotel industry, such as disruptive technologies and consolidation of the industry.