With internal audit’s help, companies can realize the benefits of adopting nonfinancial disclosure standards, says the SASB’s Jeffrey Hales.
The days of believing that a company's profit and loss account is the ultimate indicator of future performance are over. Investors, regulators, and other stakeholders are acutely aware that there is much more information that a company can disclose outside of the usual financial reporting. This nonfinancial data can provide a better understanding of the business' long-term risks as well as how those risks are managed.
