First there was financial reporting, then came sustainability reporting, and now it's the turn of integrated reporting. And integrated reporting is set to become the way companies around the world report their performance. The aim of the integrated report is to clearly and concisely tell the story of the company, who it is and what it does and how it creates value, its strategy, opportunities and risks, its business model and governance, and the performance against its strategic objectives in a way that gives stakeholders a holistic view of the company and its future. Financial reporting tells only a part of the story of any organisation. Integrated reporting aims to give a holistic view of the organisation by putting its performance, business model and strategy in the context of its material social and environmental issues - in other words, the business in its true reality! Importantly, integrated reporting includes forward-looking information to allow stakeholders to make a more informed assessment of the future value creation ability of the organisation.

2.4 Describe external reporting and specifically sustainability and integrated reporting and their importance today. (15)