Including both financial and non-financial information is known as "integrated reporting" by public companies. Currently the US Securities & Exchange Commission isn’t even allowing voluntary filing of non-financial data to be included with financial reports by public companies
The IMA and the Sustainability Accounting Standards Board (SASB) have recently partnered on this topic and more than 50 of the largest US companies are beginning to use the SASB reporting framework for non-financial reporting. Many companies are beginning to prepare in anticipation of the discussed US SEC pending sustainability reporting rule for US public companies
According to the most recent posting by Broc Romanek of CorporateCounsel.net the US SEC is actively moving forward on public company disclosure of sustainability/ corporate social responsibility reporting – also know as “non-financial” – “integrated reporting” -- including disclosing such topics as board diversity. Non-financial reporting, such as sustainability and CSR/ESG reporting has expanded over the last twenty years. Many US public companies now produce an annual sustainability report (independent of the annual financial report) and there are a wide array of ratings and standards around
ESMA states in its disclosed press release that it has concluded that Inline XBRL is the most suitable technology to meet the EU requirement for issuers to report their annual financial reports in a single electronic format because it enables both machine and human readability in one document
Some companies are combining financial reporting with non-financial reporting into ONE REPORT or "Integrated Reporting" to external stakeholders that also includes natural resources and human capital -- beyond just financial information. The CFO in most cases is responsible for this additional reporting by the company
The use of XBRL across federal financial reporting can help US government agencies report how taxpayer funds are being spent potentially linked to performance for better government
Key findings of the GAO report: The Securities and Exchange Commission’s ability to assess the accuracy of corporate climate risk disclosures is limited , the General Accountability Office said in its report
What about government reporting like GASB, FASAB, IPSASB and other accounting standards?