Lead by researchers at Deakin University, the report, Supporting global SMEs for future success – Exploring how to improve SMEs' business performance utilising integrated thinking and integrated reporting concepts outlines how SMEs around the world, of most types and sizes, could reap significant benefits from adopting the practices of 'integrated thinking' and 'integrated reporting'. 

"If we can't enhance SME productivity in the next few years our economy is going to go backwards. Large-scale adoption of integrated thinking and integrated reporting among SMEs could help to catapult national and global economies into a new era of growth and prosperity and help to insure them against future adverse impacts."

"Although the framework has to date been adopted mostly by larger companies, it is designed for entities of various sizes and natures, including for-profit, public sector and not-for-profit organisations," 

"Integrated thinking and integrated reporting are defined by a more open and inclusive approach to decision-making and communication across the organisation. It drives greater collaboration within firms and with partner firms, leading to more informed and considered decision-making, in contrast to traditional silo-based organisational structures.

"A critical element of integrated thinking and reporting techniques is the consideration of non-financial factors - such as environmental impacts or the value of human and intellectual capital - that affect a firm's ability to create and sustain value over time.

The report is based on an extensive global review of existing research and evidence, as well new insights from a panel of international experts. 

The report outlines 6 key recommendations: 

• Governments should enable and encourage SMEs to adopt integrated thinking and integrated reporting by supporting and incentivising their service providers to develop the skills, guidance materials and tools to facilitate adoption.
• Accountants, as trusted advisers either working within SMEs or providing professional services to SMEs, should seek to assess the potential benefits of integrated thinking and integrated reporting for their SME clients and, where appropriate, encourage adoption.
• Professional accounting associations and industry organisations, supported by governments, should educate their members who work as trusted advisers to SMEs, particularly small and medium-sized accounting practices (SMPs), about the potential benefits of integrated thinking and integrated reporting for their SME clients.
• Software providers should work collaboratively with SMEs, SMPs and other relevant stakeholders (such as financiers, supply chain members and government) to facilitate the development of new products that simplify integrated thinking and integrated reporting processes for SMEs.
• The IFRS Foundation should develop simplified tailored guidance materials supporting the International Integrated Reporting Framework and Integrated Thinking Principles, specifically targeted at SMEs.
• More research should be undertaken to enhance understanding of the potential benefits and costs associated with integrated thinking and integrated reporting for SMEs, and the extent to which integrated thinking and integrated reporting could be adopted across the sector globally.

This report was developed with support from the Association of Chartered Certified Accountants (ACCA) and Chartered Accountants Australia New Zealand (CA ANZ). 
CA ANZ is a sponsor of Deakin’s integrated reporting Centre.