For good reason, SMEs often complain that they are too busy to even consider taking on integrated reporting. But insufficient thought today about tomorrow’s strategy means SMEs may end up simply here today, gone tomorrow. Integrated reporting can help ensure SMEs grow and prosper in a way that can have a positive impact in all senses of the word: economically, socially, and environmentally. And the integrated reporting journey, with the right road map, need not be a difficult one.

The Professional Accountants in Business (PAIB) Committee has issued this new International Good Practice Guidance, which highlights areas where the practical application of existing internal control standards and frameworks often fails in many organizations. The new guidance will assist professional accountants in business as they work with their organizations to continuously evaluate and improve internal control, and ensure that it is an integrated part of the organization’s systems of governance and risk management. Better integrated internal controls can save the organization time and money while helping to create and preserve value.

The modern dynamic function of corporate controlling and management control systems as well as internal control systems make a significant contribution to the creation of an integrated reporting system. The role played by corporate controllers in advancing the design and implementation of integrated reporting in practice is very important. Management control systems and controllers can make a significant contribution to the overall design of the process of introducing integrated reporting within an organization from a technical and innovative level.

The new challenge of corporate social responsibility (CSR) is how to be more accountable towards stakeholders. Accountability is a duty to provide information to stakeholders who have a right to it and is closely linked with notions of corporate social responsibility. The objective of sustainability accounting is the preparation of accounts concerning organisations’ interactions with society and the natural environment. Sustainability accounting is a framework that can be used to reflect economic, social and environmental impact and demonstrate how they are connected. In practice, however, it is difficult to put together policies that simultaneously promote economic, environmental and social goals.

Real corporate social responsibility and quality publicly responsibly corporate governance are essential building blocks of compelling integrated reporting. Aspects of high professional ethics are the basis of a continuous process of improving the quality of corporate social responsibility and corporate governance. The basis for this is a high degree of real assurance of key stakeholders in real performance in this area.

Proper and adequate valuation methods are the solid foundation of the corporate restructuring and for the mergers and acquisition purposes. In contemporary practice there are several valuation methods are available. Depending on a company’s industry, and its characteristics (e.g. a start-up or a mature company), and the analyst’s preference and expertise. We shall focus on the mainstream valuation methods. These methods are classified into four categories, based on two dimensions. The first dimension distinguishes between direct (or absolute) valuation methods and indirect (or relative) valuation methods. The second dimension separates models that rely on cash flows from models that rely on another financial variable, such as sales (revenues), earnings, or book value.

Dynamic valuation of the company and the process of continuous creation is the beginning and goal of quality integrated reporting. Valuation is not just an overview of goals, a desire, but a realistic reassurance to existing and potential investors that a firm that who thinking and reporting in an integrated way has a promising growing potential for value.

The European Commission has published new regulatory technical standards that apply specifically to credit and financial institutions, including e-money institutions, payment institutions, investment firms, AIFMs and UCITs Mancos. The new standards specify “additional measures” in respect of relevant institutions’ branches and majority-owned subsidiaries (Local Entities) operating outside the EEA. Where local law does not allow implementation of group-wide policies and procedures to effectively handle the risk of money laundering and terrorist financing, they will need to take “additional measures” proportionate to the level of risk and in the worst case stop carrying on business.

Cooperation and capacity building and institutional infrastructure for anti-money laundering and combating terrorism and organized crime is very important in Southeastern Europe. The intensification of activities and regional cooperation within the UN and EU institutions will be highly focused on the issue of criteria, design, importance, effectiveness, substance, cooperation and partnerships, on the basis of gaining positive experiences and continuous improvement of best practices.

New generation of the ERPs shall be based on the IT emerging technolog. Enabling technology shall refocus to key data, and from data to valuable information. New skills are requireded, based on the corporate digital technology. The transformation of the workforce shall be towards freelances with the impact of mobile tehnologies. New configuration ERPs are nocking at the corporate doors needins significant investments. Future ERP shall be with a simplified core, collective inteligence and drive for digital, based on ERP innovation.

Information source of the sustainable corporate finance (SCF) is integrated reporting based on the ERP IT. The wrapp-it up panel on SCF shall focus on the multi-attributable approach. It comprises and reintegrating financial, social and environmental elements which are interrelated withing the framework of integrated reporting (IR).

Intetgrated reporting is a new reporting framework. It extends beyond traditional corporate reporting. It focuses on long-term value creation in terms of financial, human, intellectural, social and relationship, and natural capital. Internatioinal Integratred Reporting Council (IIRC) and the EFAA are supporting introduction and development of integrated reporting. EU and globally now is the "breakthrough phase" towards wiced acceptance for integrated reporting. The effects of quality integrated reporting shall be perceived at the micro firm level, by attracting external investors via the stock exchanges or directly.