The document discusses the International Integrated Reporting Council (IIRC), which was established in 2010 to develop a framework for integrated reporting. It is supported by accounting and sustainability organizations. The IIRC has established pilot programs and published discussion papers on integrated reporting. The framework provides guiding principles for integrated reports, including strategic focus, connectivity of information, and materiality. It discusses the role of accountants in integrated reporting, such as providing education, preparation, and assurance services.

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Integrated Reporting
The next frontier?
Mario Abela
International Federation of
Accountants
March 11-12, 2014

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• 2010 IIRC established
– Founding members A4S and GRI supported by IFAC
• 2011
– Corporate entity established
– Main offices in London; outreach posts around the globe
– Pilot program set up
International Integrated Reporting Council
Background

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Who is the International Integrated Reporting
Committee?
Regulators
Investors
Accounting
Profession
NGO’s
Companies
Standard
Setters

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Council (48 members):
– ACCA
– AICPA
– CIMA
– CPA Australia
– ICAEW/GAA
– IASB
– IFAC
– BDO
– Deloitte
– E&Y
– Grant Thornton
– PwC
– IIA
Non-Council participation:
– JICPA
– SAICA
Involvement of the Profession

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Business
Network
Investor
Network
IIRC Pilot Programme

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0
50
100
150
200
250
300
350
400
UK Company annual report pages - 1850-2008
'Back end'…
Source: Investis Research
Why Integrated Reporting:
Volume of reports

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Where is value created today?

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Positioning Integrated Reporting
International
standards
Financial
Performance TransparencySustainability
Reporting
Overall
performance
story
Integrated
Reporting
INTEGRATED THINKING & MANAGEMENT

9. Discussio
n Paper
Prototype
Framewor
k
- Emerging <IR>
Database
- Building the
Business Case for
<IR>
- Background
Papers for <IR>
- IIRC Pilot
Programme
Yearbooks
The Framework journey so far…
- Basis for
Conclusions
- Summary of
Significant Issues

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The Framework: Guiding Principles
• Strategic focus and future
orientation
• Connectivity of
information
• Stakeholder relationships
• Materiality
• Conciseness
• Reliability and
completeness
• Consistency and
comparability

12. Discussio
n Paper
Prototype
Framewor
k
The Framework journey
ahead • Framework
Development
• Guidance and
Practice
• Thought
leadership
• Academic
community
• Databases
• Evidence Base

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• What role should accountants play in <IR>?
– Education
– Preparation
– Assurance
– Standard-setting
– Global corporate reporting language
The Future Role of the Profession

14. www.ifac.org