Auditing Integrated Reports: Are there Solutions to this Puzzle?

As the concept of integrated reporting is undertaking numerous developments, particular aspects in need of research are emerging connected to the topic. One of this particular aspects is the case of assurance provision in the case of integrated reporting. This paper intends to provide an insight in this topic, in the form of a literature review and point out the main actions which need to be taken to provide a clear perspective for auditing integrated reports. The main findings show that a high (or reasonable) level of assurance is difficult to obtain in the case of integrated reports because of the lack of audit regulations, the company specific trait of integrated reports and key performance indicators for non-financial information. Other issues that should be taken into consideration are the costs of such an audit (in monetary units and time), but also the issue of providing assurance for prospective information (future oriented). As a solution, collaboration between the IIRC and other standard setters (especially from the field of audit) is seen as the best way of overcoming the hindrances and providing coherent and effective audit methodologies that can that can be used in the case of integrated reports.