What does materiality mean for you?
Workiva is excited to present the second excerpt in our series from The Integrated Reporting Movement, by Robert G. Eccles, Michael P. Krzus, and Sydney Ribot. The book explains how companies can ensure their own long-term viability by contributing to a sustainable society.
This release is focused on explaining how companies will handle the central but elusive concept of materiality. As a construct, it is always entity-specific and based on judgement—yet it's a critical component in all forms of reporting.
How do companies turn this into tangible, actionable goals?
The authors present two methods for developing and managing the issue of materiality. The first is an annual "Statement of Significant Audiences and Materiality" to be produced by the board. The second is a "Sustainable Value Matrix," which links materiality to resource allocation, stakeholder engagement, innovation, and reporting.
Click here for details and to request a copy of the excerpt.