Establishment of the International Integrated Reporting Council
At the A4S Forum event on 17th December 2009 His Royal Highness The Prince of Wales, on behalf of A4S, the GRI and other organisations, called for an ‘International Integrated Reporting Council’ (IIRC) to be established to oversee the development of an international connected and integrated approach to corporate reporting.
Towards Integrated Reporting – Communicating Value in the 21st Century – Discussion Paper
The IIRC has published the Discussion Paper Towards Integrated Reporting – Communicating Value in the 21st Century which 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. The IIRC welcomed general comments on the Discussion Paper as well as responses to the discussion questions set out. The deadline for submission was December 2011.
The Integrated Reporting Pilot Programme
The Integrated Reporting Pilot Programme offers a select group of companies the opportunity to demonstrate global leadership in this emerging field of corporate reporting. The Pilot Programme underpins the development of the Integrated Reporting Framework in 2011 and onwards. Through the Pilot Programme, the principles and practicalities of Integrated Reporting will be tried and tested, to support the creation of a new global standard in Integrated Reporting. Over 50 companies from around the globe have been invited to join the Programme and companies from various sectors have secured their participation, including Microsoft Corporation (Software and Computer Services), HSBC (Banks) and Gold Fields (Mining).
Planned Publications
Publications the IIRC is planning include:
- A summary of submissions on the Discussion Paper (expected to be published in March 2012).
- Exposure Draft of an International Integrated Reporting Framework (expected to be published for comment in 2012)
Future Directions
Other actions the IIRC is currently undertaking, as foreshadowed in the Discussion Paper, relate to:
- The <IR>Pilot Programme;
- Working with others on emerging measurement and reporting practices;
- Outreach, continuing to encourage organisations to adopt and contribute to the evolution of Integrated Reporting;
- Exploring opportunities for harmonising reporting requirements within and across jurisdictions; and
- Consultation regarding the ongoing governance of Integrated Reporting.
Visit the IIRC website for more information http://www.theiirc.org/
