The value associated with an organization in the free market is exceeding the value that is presented on a financial balance sheet. This increasing value is due to the capacities and capabilities that an organization has created with its intangible assets. Intangible assets can include intellectual capital, human capital, and social and relationship capital that create financial value and returns to investors. External financial reporting provides limited insight and does not consider the value, condition and sustainability of these assets. So how relevant is financial accounting and external reporting today?