International Integrated Reporting Committee calls for a more meaningful approach to corporate reporting
The IIRC launched on 12 September 2011 a discussion paper called “Towards Integrated Reporting – Communicating Value in the 21st Century”. The paper can be read here.
The press release that accompanied the launch describes the purpose of the paper:
“Integrated Reporting will provide more comprehensive and meaningful information about all aspects of an organization‟s performance and position, presented in a much clearer, more concise and more user friendly format. In particular it will demonstrate the links between an organization‟s financial performance and the social, environmental and economic context within which it operates…
Integrated Reporting will be clear and comprehensible, providing a meaningful assessment of the long term viability of an organization, meeting the information needs of investors and other stakeholders and supporting the effective allocation of financial, manufactured, human, intellectual, natural and social capital…
The discussion paper…presents 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 better reporting, including producers and users of reports.”
We discussed the aims of the Prince of Wales-backed IIRC in March 2011 in this post.
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