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Corporate Reporting on the Internet - Study Group Members Status report
Project proposal – April 2008
Work commenced – October 2008
Discussion Draft – November 2010
Estimated publication - February 2011
| Staff contact
John Tang, CA, MAcc
research.studies@cica.ca
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Project objective and terms of reference Electronic disclosures and web-based reporting of both financial and non-financial information is now commonplace. With the rapid advancement of information technology, particularly the Internet and related technologies such as XBRL (eXtensible Business Reporting Language), companies are adopting new means of communicating with investors and other stakeholders. For example, information is being delivered online in the form of corporate news, quarterly earnings releases, annual reports (typically in PDF format), audio and/or video conferencing and e-mail alerts. Together, organizations and stakeholders are shifting to a new paradigm — real-time online reporting. The objective of this study is to provide practical guidance for using the Internet in corporate reporting. The terms of reference for this project are: - To identify the objectives of corporate reporting on the Internet and the perceived information needs of stakeholders with regard to the past, present and future activities of a company.
- To assess the costs/benefits of corporate reporting on the Internet, taking into consideration a company’s strategy for communicating with stakeholders.
- To survey and summarize the research literature regarding corporate reporting on the Internet including the evolution, current practices and regulatory requirements in Canada and internationally.
- To review existing frameworks used by companies in reporting on the Internet, and by organizations such as the CICA that issue awards for such reporting.
- To examine directions and trends in corporate reporting on the Internet, highlighting factors that might enhance the overall usefulness and effectiveness of reporting to stakeholders.
- To provide guidance on how to enhance communications with stakeholders using Internet-based reporting of both financial and non-financial information.
- To suggest ways in which both the CICA and the accounting profession in Canada might contribute to advancing the current state of corporate reporting on the Internet taking into consideration Internet-based reporting initiatives by the Global Accounting Alliance.
Using the Internet in Corporate Reporting - Practical Guidance Publications Part 1: Practical Guidance for Managing Collaboration and Innovation (June 2010) Part 2: Practical Guidance for Managing Websites (June 2010) Part 3: Practical Guidance for Managing Web 2.0 and Social Media (June 2010) Using the Internet in Corporate Reporting - Research Report and Supplementary Guidance |
