IIRC’s IR Reporting Draft to be Introduced in the Month of Spring
The IIRC is planning to introduce its integrated reporting structure’s draft for the purpose of consultation in the month of Spring in 2013. The International Integrated Reporting Council is expecting to give approval to the first version of the reporting structure along with another consultation draft that focuses on governance related arrangements by fourth quarter 2013.
The IIRC is also hoping that by the month of autumn in 2013, it will have successfully implemented its complete governance related arrangements and will have adopted the new framework by the month of January 2014.
On 18th of September, the International Integrated Reporting Council’s Pilot Programme will be organizing a conference for it investor and business networks in Amsterdam to hold discussions as well as share what they have experienced till date and plans for future for delivering their plans successfully.
IIRC’s Pilot Programme consists of as more than seventy five organizations including Unilver and Microsoft along with twenty five investors from across the world and has been crafted to challenge the content, practical application, principles or Integrated Reporting and design the Integrated Reporting structure.
The International Integrated Reporting Council’s analysis, which was carried out initially indicated that there are four important elements that required further exploring to design the structure completely. These elements basically consist of concepts related to the definition of IR, roll out timing and target customer.
IIRC received more than two hundred responses from more than thirty countries on the discussion related paper. A recently received report from ACCA indicated that the entities that adopted an Integrated Reporting approach ended up disclosing more environmental, ethical and social information in their corporate related reports as well as took more account of the requirements of stakeholders.
The discussion paper summarizes the findings of the academic related report on the Integrated Reporting’s impact in South Africa, where it has been mandatory since 2010-2011.
The ACCA has developed a recommendations list for developing Integrated Reporting, like making the information crisp to avoid any sort of repetition and for incorporating additional feedback received after consultation from stakeholders and encouraging the involvement of academics furthermore in discussions related to the future of Integrated Reporting.