Traditionally, annual reports have been an essential medium to update stakeholders on the company's financial and strategic performance over the past financial years.

However, the nature and pace of change in businesses today have evolved over time and stakeholders are placing greater emphasis on the future performance and non-financial information of a company. Integrating reporting has emerged as a timely response to provide both financial and non-financial information in a single and comprehensive report.

Explain the emerging importance of Integrated Reporting and discuss how Integrated Reporting can address the disclosure needs and expectations of the external stakeholders.