Although sustainability reporting has shown significant advances in the past decade, research has not kept pace with these developments. Very few studies looked how stakeholders perceive the importance of sustainability reporting and disclosure. This paper explored how users and preparers rated the importance of performance indicators suggested by the Global Reporting Initiative (GRI) Guidelines regarding the environmental, economic and social impacts of a company. It provides evidence on which GRI performance indicators are perceived as relevant and important by both preparers and users. We found that users and preparers generally agree with the relevance and importance of all the performance indicators included in the GRI G3 guidelines. Despite a few areas of statistical disagreement, the overall perceptions were similar between users versus preparers regarding the importance of the GRI indicators. The convergence of the usefulness of GRI guidelines as viewed by the two conflicting stakeholders of users and preparers suggests that the stage may be ready for rule-making bodies and governmental agencies to further promote sustainability reporting by mandating uniform standards in reporting and disclosure.