Abstract
The International Journal of Accountancy (IJA) is published by the Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka. It is an interdisciplinary accountancy research journal, publishing enquiries of accounting, management accounting, auditing, taxation, and governance issues and their impacts on policy, practice and society. IJA encourages better understandings of accountancy related matters through research, encouraging innovative and interdisciplinary approaches.
Highlights
IntroductionThere is a growing global trend for companies to adopt new corporate reporting models such as integrated reporting (IR) (Cooray et al, 2021), which provides a forward-looking assessment of an entity's value creation process through its multidimensional six capitals that entail financial and non-financial information
There is a growing global trend for companies to adopt new corporate reporting models such as integrated reporting (IR) (Cooray et al, 2021), which provides a forward-looking assessment of an entity's value creation process through its multidimensional six capitals that entail financial and non-financial information. This forward-looking assessment of value creation and the consideration of multidimensional aspects, covering both financial and non-financial information, brings some subjectivity into IR. This subjectivity makes the assurance of an integrated report challenging (Maroun, 2019), growing demand for external assurance on the integrated report has been witnessed globally (Maroun, 2019; KPMG, 2017; International Integrated Reporting Council (IIRC), 2014)
This study aims to offer a conceptual model to explore the following: a) the rationale behind obtaining external IR assurance; b) the impact of external IR assurance on internal assurance practices; c) the justification for modifications made to the internal assurance practices; and d) the implications for external assurance practices
Summary
There is a growing global trend for companies to adopt new corporate reporting models such as integrated reporting (IR) (Cooray et al, 2021), which provides a forward-looking assessment of an entity's value creation process through its multidimensional six capitals that entail financial and non-financial information. This is a significant matter to consider as the external IR assurance processes can enhance report quality and provide more reliable disclosures on non-financial information (Briem & Wald, 2018; Maroun, 2019; PwC, 2015; Zhou et al, 2017). This study aims to offer a conceptual model to explore the following: a) the rationale behind obtaining external IR assurance; b) the impact of external IR assurance on internal assurance practices; c) the justification for modifications made to the internal assurance practices; and d) the implications for external assurance practices In developing this conceptual model, this study uses the institutional theory and the framing theory concurrently. Section Four presents the model development, followed by future directions and applications
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