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Integrated Reporting

The Integrated Reporting (IR) Initiative in the Center for Strategy, Execution and Valuation is an engagement platform for business leaders and thought leaders in the evolving area of Integrated Reporting. This initiative has participated in the development of a book and journal articles focused on leading practices in Integrated Reporting as well as international conferences in Europe and North America. The Integrated Thinking & Reporting Conference in Rome, Italy, was held November 17-18, 2016. In 2017 an international conference will be organized in New York City at Columbia University on September 20, 2017 and an international conference in Rome, Italy in May 2018.  Here are some recent publications from the initiative.

  • Busco, Cristiano, Mark L. Frigo, Paolo Quattrone, and Angelo Riccaboni, Integrated Reporting: Concepts and Cases that Redefine Corporate Accountability, Springer International Publishing (2013)
  • Busco, Cristiano, Mark L. Frigo, Paolo Quattrone, and Angelo Riccaboni, "Leading Practices in Integrated Reporting​" Strategic Finance (September 2014) 
  • Busco, Cristiano, Mark L. Frigo, Paolo Quattrone, and Angelo Riccaboni, "Redefining Corporate Accountability through Integrated Reporting" Strategic Finance (August 2013) 
  • Frigo, Mark L., Cristiano Busco, Emilia Leone, and Angelo Riccaboni, "Cleaning Up: Using Management Control Systems in Implementing Sustainability can Profit the Earth as well as a Corporation" Strategic Finance, July 2010
  • Busco, Cristiano, Giovannoni, Elena, Riccaboni, Angelo, and Mark L. Frigo, "Linking Governance to Strategy: The Role of the Finance Organization" Singapore Accountant, March-April 2008 (adapted by the Singapore Accountant from Strategic Finance.
  • Busco, Frigo, Giovannoni, Riccaboni, and Scapens, "Integrating Global Organizations through Performance Measurement Systems: How Systems of Performance Management Helped GE and Nestlè Waters to achieve cultural alignment" Strategic Finance, January 2006 (cover article)
  • Busco, Frigo, Giovannoni, Riccaboni and Scapens, "Towards 'Integrated Governance': The role of performance measurement systems" Studies in Managerial and Financial Accounting Volume 16, (2006)
  • Busco, Frigo, Giovannoni, Riccaboni, and Scapens, "Beyond Compliance: Why Integrated Governance Matters Today" Strategic Finance August 2005 (cover article)

Ongoing research includes the following working paper:

2017 Working Paper “Measuring and Reporting Sustainable Business Models”
by Cristiano Busco, Giovanni Fiori, Mark L. Frigo and Angelo Riccaboni

Today, our planet faces many economic, social and environmental challenges. To deal with these, Sustainable Development Goals (SDGs) define global priorities and aspirations for 2030 which have been promoted by the United Nations and many governments worldwide have agreed to these goals (

These SDGs present a great opportunity for business organizations to identify and execute sustainable business strategies as key drivers of their visions and value-creating sustainable business models. While on the one hand the SDGs present an opportunity for business-led solutions and technologies to be developed, they also offer an overarching framework to shape, steer, measure and report objectives, initiatives and performance allowing organizations to capitalize on a range of benefits such as: identifying future business opportunities; strengthening stakeholder engagement; and communicating how they can add value, and to whom.

Building on a series of cases (such as Nestlé, SABMiller, BT, AkzoNobel, Enel, to name a few) this article illustrates ways and leading practices in which organizations are aligning their strategies as well as measuring and reporting their contribution to the SDGs. In doing so, we will describe and highlight the role of Management Accountants as key contributors in mapping the company’s value chain to understand the potential impact; selecting the objectives and measure them through KPIs; integrating responsible initiatives with the business strategic priorities; and, finally, communicating the SDG performance through appropriate mechanisms of reporting.    

Author Bios:

Cristiano Busco, Ph.D., is professor of Accounting and Integrated Reporting at LUISS Guido Carli University of Rome, and at the University of Roehampton in London, UK. Previously, Cristiano has held positions at the National University of Ireland, Galway, Babson College, Manchester Business School (U.K.), University of Southern California, and the University of Siena, Italy. You can reach Cristiano at and

Giovanni Fiori, Ph.D, is professor of Business Administration, Internal Audit and Corporate Governance at LUISS Guido Carli University of Rome. He is the Academic Coordinator of the Double Degree in International Management - DDIM - with Fudan School of Management (Shanghai) and member of the Supervisory Board of UBI Bank. His areas of research include financial accounting, governance and integrated reporting. You can reach Giovanni at

Mark L. Frigo, CMA, CPA, Ph.D., is director of the Center for Strategy, Execution and Valuation and the Strategic Risk Management Lab in the Kellstadt Graduate School of Business and Ledger & Quill Foundation Distinguished Professor of Strategy and Leadership in the Driehaus College of Business at DePaul University in Chicago, Ill. He also is an advisor to executive teams and boards in the area of sustainability strategy and strategic risk management. You can reach Mark at

Angelo Riccaboni, Ph.D., is Professor of corporate governance and management control systems at the University of Siena. He was visiting scholar at USC, INSEAD, LSE, University of Wales at Bangor (UK), Columbia Business School, and DePaul University. Angelo is a member of the Leadership Council of the UN Sustainable Development Solutions Network and chair of Med Solutions, the UN SDSN Regional Center for the Mediterranean. You can reach Angelo at