Integrated Reporting Framework [Completed]


Effective date:  There is currently no regulatory requirement for IR in Canada.

Transitional provisions:

Not applicable. There is currently no regulatory requirement for IR in Canada. It is a market-led initiative that aims to encourage companies to communicate their value creation story, rather than create another compliance burden.

Last updated:

March 2017


The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, the accounting profession and NGOs. Together, this coalition shares the view that communication about value creation should be the next step in the evolution of corporate reporting. The IR Framework has been developed to meet this need and provide a foundation for the future.

The primary purpose of an integrated report is to explain to providers of financial capital how an organization creates value over time. An integrated report benefits all stakeholders interested in an organization’s ability to create value over time, including employees, customers, suppliers, business partners, local communities, legislators, regulators and policy-makers.

Commenting on the release of the Framework, IIRC Chairman Professor Mervyn King SC, said, “We have been taken aback by the degree to which mainstream businesses and investors have been willing to participate in creating this Framework and embarking on their own <IR> journey.  Last month PepsiCo became the latest global company to sign up to the IIRC’s 100-plus strong business network, which includes HSBC, Unilever, Deutsche Bank, China Light & Power, Hyundai Engineering and Construction, National Australia Bank and Tata Steel.

IIRC Chief Executive Officer, Paul Druckman, said, “The Framework brings technical rigour and cohesion to a process that has grown organically and through market pressure over the last three years.  Today we have fired the starting gun on a period of global adoption that will begin in early 2014 by showcasing practical examples of reporting innovation, including how businesses are demonstrating value creation using the ‘capitals’ model and principles such as the connectivity of information.”

Other developments

March 2017

On March 1, 2017, the IIRC announced that it is conducting a two-month comment period to encourage feedback on the implementation of the International <IR> Framework. Feedback is being sought from those involved with preparing integrated reports, providers of financial capital and other users of integrated reports, as well as policy makers, regulators, standard setters, assurance providers and academics. Comments are due by April 30, 2017.

June 2014

On June 25, 2014, a report compiled by the six largest international accounting networks has found that traditional financial statements do not give investors the long term focus they need in their decision making, and that improvements to corporate reporting, such as integrated reporting principles, are needed to encourage private investments in the infrastructure sector. The report, Unlocking Investment in Infrastructure - Is current accounting and reporting a barrier?, was commissioned by the B20 Group (B20), a group of business leaders from large companies which tries to influence governments from the Group of 20 (G20) countries on business related issues.

December 2013

On December 9, 2013, the IIRC issued its International Integrated Reporting (IR) Framework.

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