Integrated reporting update

  • IIRC (International Integrated Reporting Committee) (green) Image

02 Oct, 2012

A year after launching its Integrated Reporting Pilot Programme, the International Integrated Reporting Council (IIRC) has held a conference and announced a 'Prototype Framework' for integrated reporting as it moves towards finalising the framework by December 2013.

The announcement of the prototype framework follows on an earlier draft outline and links to comments made by Paul Druckman (IIRC CEO) at the recent conference, where he noted the importance of the pilot programme in developing the framework:

... I am so pleased that the Pilot Programme will be extended for two further reporting cycles, so that this year’s innovation can be continued and tested, and shared with others.  We are seeking to encourage a process of continuous improvement in the quality of corporate reporting.  The Framework will be so much more valuable with the benefit of this extensive testing, providing the intellectual underpinning to the evolution in corporate reporting we are seeking to bring about.

In his speech, Mr Druckman also called on governments and organisations to prepare for the introduction of integrated reporting:

... in the coming year we plan to use the collateral we have gained from the experiences of Pilot Programme businesses and investors to increase our profile and influence.  To begin this process, we will be asking each of [the Pilot Programme] organizations to sign up to a public statement which will be published in early October.  The statement will outline the broad benefits of our market-led approach and will call on Governments, regulators and standard setters to sit up and take notice of our movement.  We need to encourage them to think about, and prepare for, Integrated Reporting, in advance of the Framework being published at the end of next year.

A Consultation Draft of the Framework is expected to be released in April 2013 followed by a final “version 1.0” in December 2013.   The IIRC is also planning to release subsidiary papers on a range of topics during late 2012 and 2013.

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