Our two main recommendations are to reword and extend the Combined Code so that it truly encompasses the responsibilities of investors alongside those of boards and better reflects cultures, values and behaviours in the assessment of risk and allocation of rewards 

The development of corporate integrated reporting (IR) standards has the promise to be one of the great business innovations of the 21st century, and could be pivotal in restoring public trust in business institutions, Harvard Business School Dean Nitin Nohria told a seminal gathering of IR key stakeholders at an HBS workshop last week.

Although still an embryonic management practice, the authors believe that “integrated reporting” of a company’s financial and non-financial performance into a single document is about to take off, as market and regulatory forces push more companies to adopt this practice. In doing so, companies will face a number of challenges, which the authors say can be efficiently dealt with via cloud computing.

Signs of a new era in economics emerge, bringing hope for real and systemic change.