Download The impact of recent changes in corporate financial reporting

The impact of recent changes
in corporate financial reporting
Integrated reporting
Branko Kecman
Bosnian Institute of Directors
Brussels 17.12.2013
Corporate governance in B&H
• Corporate governance issues are directly
related to joint stock companies stemming
from privatization process.
• IFC has become widely recognized in B&H
as the pioneer of establishment and
improvement of corporate governance
practices in family-owned companies, and
its trademark, IFC CG project, is the subject
of interest for the owners of family
businesses.
Reporting in B&H
• Only few years ago listed companies started to issue basic
annual reports.
• There is no knowledge nor experience about Integrated
reporting in B&H.
• Major obstacle is persuading companies to present their
annual reports as “voluntary obligation” in order to
communicate with its stakeholders in the highest quality
manner.
• There are not too many foreign investors in region, especially
B&H. It will be of great importance if existing investors and
investors entering the market encourage companies to think
more about transparency and IR, just as IFC is doing.
Mission of Bosnian Institute of
Directors
Mission of Bosnian Institute of Directors is
implementation of highest standards of
corporate governance by transferring
knowledge to boards and plans to raise
awareness about integrated reporting in
our country.