This paper has reviewed the recent literature in the field of integrated reporting (IR) to study the progress of IR research and opportunities for future research. The IR practice in India and abroad have been discussed to find out the challenges and opportunities. Corporate reporting over the years has witnessed paradigm shift to meet the information needs of the stakeholders and it continues to evolve from traditional financial reporting to sustainability reporting to more recently, Integrated Reporting. Integrated reporting is a vehicle for long-term value creation for and by the business itself. It is a concise communication about how an organization's strategy, governance, performance and prospects lead to creation of value over short, medium and long-term. IR is expected to bring greater transparency on corporate commitment to sustainability by showing the links between financial and sustainability performance in single document. It aims at connecting different functions to form a holistic view of the business, recognizing the value, risks, and opportunities. It takes a wider view of the six 'capitals', i.e., financial, manufactured, intellectual, human, social and relationship, and natural capital. IR is emerging as an innovative reporting tool for companies for integrating environmental and social thinking into their business. Many countries and their regulators (Japan, India, South Africa, UK and many European countries) have taken initiatives to implement integrated reporting. SEBI, in consultation with industry bodies and stock exchanges, asked top 500 listed companies to voluntarily adopt IR framework from the financial year 2017-18. 

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