Adoption of Integrated Reporting Practices in Sri Lanka

Abstract

Integrated Reporting (IR) has gained prominence as a mechanism to provide balanced information to stakeholders regarding value creation. This study aims to investigate the perceptions of IR within Sri Lankan companies. Primary data were gathered from accounting experts including corporate report preparers, auditors, investors/analysts, and other relevant stakeholders through an online questionnaire. The questionnaire comprised two sections: Section A focused on demographic factors, while Section B delved into IR adoption-related factors. Statistical analysis, utilizing the latest version of the Statistical Package for the Social Sciences (SPSS), was employed to analyze the collected data. Descriptive analysis was conducted to interpret the findings. The study reveals a significant level of knowledge and awareness regarding IR among respondents. Integrated thinking promotion emerged as the primary perceived benefit, while the costs associated with IR preparation were identified as the main challenge. The study underscores the necessity for proper training seminars and workshops on formulating integrated reports, along with a reasonable timeframe for IR implementation, as recommended by respondents.