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Integrated reporting update

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

18 Jan 2013

The International Integrated Reporting Council (IIRC) has issued a newsletter with updates on progress on its integrated reporting initiative, including the timing of the issue of an exposure draft and background papers. The IIRC has also effectively confirmed that it and International Accounting Standards Board (IASB) are working together to create a Memorandum of Understanding between the two bodies.

In its recently released January newsletter (link to the IIRC website), the IIRC notes the following:

  • The IIRC has announced that it is expanding its 'examples database' illustrating integrated reporting, and also re-categorising the information in accordance with its prototype integrated reporting framework
  • The IIRC has announced its decision to expand its pilot programme, and will invite additional businesses to join the programme
  • The IIRC will release an exposure draft of its integrated reporting framework on 16 April 2013.  The exposure draft will be open for comment for three months, and will be proceeded by background papers on key technical topics relating to the framework in February 2013.

In addition, the IIRC has posted a brief article on its website (link to IIRC website) where it is stated that the IIRC and IASB "have confirmed they are in talks to sign a Memorandum of Understanding (MoU)" but "the agreement has yet to be finalised".  The IIRC has already reached a similar agreement with the International Federation of Accountants (IFAC).

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