Companies are being forced to critically re-evaluate how they communicate their financial
information to stakeholders. Integrated Reporting, as mandated by the King III Report
seeks to combine the reporting of financial and nonfinancial performance measures in a
way that promotes corporate strategy. South Africa is leading the way in corporate governance
and financial reporting with the first large-scale adoption of Integrated Reporting by
listed companies. While there is a marked increase in financial communication from companies,
it is not clear how all stakeholders use and value this information. The primary aim
of this paper was to investigate how financial information is consumed within the ambit of
the new financial reporting standards. Through a national online survey, this study found
that very few stakeholders use the Integrated Reports as their main source of financial and
investment information, and that these reports are seen as additional information. Annual
and interim financial reports by companies are still the mainstay for corporate financial
information. While stakeholders currently seldom use the Internet for financial information,
they have indicated that they would increasingly prefer to do so. The paper concludes
with a discussion of opportunities and challenges that future Integrated Reporting faces
based on these findings.