This document discusses various accounting and reporting frameworks that are changing, including integrated reporting and global reporting initiatives. It also addresses questions around where organizations fit within the changing landscape, what changes may be needed, and who is speaking for companies through social media. Additionally, it covers pressures around fraud and governance, and the need for dynamic and comprehensive response systems to address these issues. The bottom line is that current reporting systems are not adequate, so organizations need to search for answers.

1. Petra Learning LLC
Ohio Society of CPAs
A Look Ahead
November 14, 2013
11/23/2013
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1

2. Navigating the Unfolding
Landscape
What Questions Are You
Asking?
Changing
Frameworks
Q: Where do
we fit?
Q: What
changes are
needed?
Social
Media
Activism
Q: Who’s
speaking for
you?
Q: What are
they saying?
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Fraud/Governan
ce Focus
Q: Where am I
weak?
Q: Have can I
batten down the
hatches?
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3. 1. What’s required?
2. How to present?
3. Pros / cons?
Result
Need dynamic
reporting systems and
processes
11/23/2013
1. U.S. GAAP / IFRS
2. Private Company
3. Small / Medium
Enterprises
4. Non-Profit
5. OCBOA
1. Global
reporting
initiative
(G4)
2.
Integrated
Reporting
(IIRC)
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Coalescing
Bottom line:
What we have right
now is not getting the
job done
Therefore:
Search for answers
Segmentin
g
Frameworks
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4. Integrated Reporting
Guiding Principles
(www.theiirc.org)
 Strategic focus
 Future orientation
Adoption
 Connectivity
 90 global businesses
 Stakeholder
responsiveness  50 institution investors
 Materiality
 U.S. Companies:
 Conciseness
◦ Coca-Cola, SAP, Cliff’s Natural
 Consistency
Resources, Jones Lang
 Comparability
Lasalle, Microsoft, Prudent Financial
Inc., The Clorox Company
Comments
July 15
V1 Dec
2013
Pilot to
Sept 2014
11/23/2013
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5. Social Media Activism
Who Controls Your Financial
Brand?
Access to
Information
Public
Relations
Nightmare
Social
Media
Example 1:
Imaging3, Inc.
 Example 2: Netflix
CEO personal
Facebook
messaging / SEC
FD decision
 Example 3:
Snowden

Who’s speaking for you?
How much sensitive data floats around your team?
11/23/2013
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6. Fraud / Governance
Pressures
 COSO IC Framework
 Whistleblower provisions
 Increased enforcement action
Response System
 Dynamic, Integrated, Comprehensive,
Understood, Accepted
11/23/2013
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7. THANKS FOR YOUR ATTENTION.
ENJOY THE REST OF THE DAY.
If there are comments, questions we did not get a
chance to address, you can send them to me at:
tiffany@petralearning.com
11/23/2013
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