Joint IFAC and IIRC Project: Accelerating Integrated Reporting Assurance [Research]
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Next steps: |
This Initiative is being rolled out in installments by IFAC and the IIRC |
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Last updated: |
May 2022 |
Overview
On February 26, 2021, the International Federation of Accountants (IFAC) and the International Integrated Reporting Council (IIRC) launched a new joint initiative and issued the first installment, “Accelerating Integrated Reporting Assurance in the Public Interest”.
The Initiative recognizes that new thinking is required to determine what comprises integrated report assurance and how to best deliver it, given integrated reporting’s broad and forward-looking focus on value creation. The Initiative, which will be rolled out in installments, is designed to heighten awareness of key issues, drive constructive conversation with and among key stakeholders, and encourage providers and users of assurance services in particular to lend their voices to the effort.
The first installment of the Initiative, Accelerating Integrated Reporting Assurance in the Public Interest, sets out what integrated reporting assurance involves for organizations, auditors, and others. This installment also addresses the difference between the two types of assurance - limited and reasonable - and what is required of auditors and organizations to strive for reasonable integrated reporting assurance.
Review the press release on the IFAC's website.
The second installment of the Initiative, Executing the Board’s Governance Responsibility for Integrated Reporting, was issued on May 25, 2022 and considers how internal assurance activities can be organized in support of boards discharging their responsibility for the integrated report and underlying reporting process. Board accountability for integrated reports and executing a cohesive and coordinated internal approach to integrated reporting assurance provide the basis for improving the quality of integrated corporate reports and better preparing organizations for external assurance.
Review the press release on the IFAC’s website.
Other Developments
May 2022
On May 25, 2022, IFAC and the IIRC issued a second installment related to this initiative, “Executing the Board’s Governance Responsibility for Integrated Reporting”.
February 2021
On February 26, 2021, the International Federation of Accountants (IFAC) and the International Integrated Reporting Council (IIRC) launched a new joint initiative related to integrated reporting and issued a first installment, “Accelerating Integrated Reporting Assurance in the Public Interest”.