WebFilings Executive Advisor Featured in Harvard Business School's E-Book
In October of this year, Harvard Business School hosted the 2010 Workshop on Integrated Reporting: Frameworks and Action Plan. Under the direction of the conference facilitator, Robert G. Eccles, conference participants published a 334-page e-book contextually relevant to the themes developed and captured at the workshop. Nitin Nohria, Dean of Harvard Business School, commented in the foreward,* "I truly believe business contributes to the prosperity of humanity and is more important to the continued prosperity of humanity than any other institution.
Therefore, we must question what got us collectively to a place where society has that level of lost trust in business." Nohria suggests that progressive ideas such as integrated reporting is one way businesses can begin to win back society's trust. So what exactly is integrated reporting? Wikipedia defines it as “the integrated representation of a company's performance in terms of both financial and non-financial results. Integrating reporting provides greater context for performance data, clarifies how sustainability fits into operations or a business, and may help embed sustainability into company decision making. Some companies that report in an integrated manner also report additional sustainability information, often online, for specific stakeholder groups.” Liv Watson, one of the Founders XBRL International and an Executive Advisor to WebFilings, and Brad Monterio, Managing Director of Colcomgroup, Inc., co-authored a section of the e-book entitled Bringing Order to the Chaos: Integrating Sustainability Reporting Frameworks and Financial Reporting into One Report with XBRL.
Watson and Monterio discuss topics such as:
- Linking the Global Vocabularies of Sustainability Reporting
- Competing Frameworks Create Chaos and Inconsistency
- Trends in Sustainability Reporting—Adding Another Layer of Complexity
- The Role of XBRL in Sustainability Reporting
- Streamlining Integrated Reporting through XBRL Taxonomies
- Obstacles to Overcome
*Source: Harvard Business School website