Integrated reporting discussion paper released
On Monday 12 September 2011 the International Integrated Reporting Committee (IIRC) launched a discussion paper Towards Integrated Reporting – Communicating Value in the 21st Century (PDF). IIRC, which comprises an international cross section of leaders from the corporate, investment, accounting, securities, regulatory, academic and standard-setting sectors, has as its aim the creation of a globally accepted Integrated Reporting framework which brings together material information about an organisation’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operates. It provides a clear and concise representation of how an organisation demonstrates stewardship and how it creates and sustains value.
The recent financial crisis has raised fundamental questions about the functioning of the capital markets and the extent to which existing corporate reporting disclosures highlight systemic risk. At the same time, the world has changed due to globalisation and resulting interdependencies in economies and supply chains, advances in technology, rapid population growth and increasing global consumption.
The paper considers the rationale for Integrated Reporting, offering initial proposals for the development of an International Integrated Reporting Framework and outlining the next steps towards its creation and adoption. Its purpose is to prompt input from all those with a stake in improved reporting, including producers and users of reports. Accordingly the committee is seeking feedback on the paper by 14 December 2011. Interested readers are encouraged to visit the IIRC webpage for more information. The Institute will be preparing a submission and comments can be emailed for possible inclusion.
Article last updated 19 September 2011