International Integrated Reporting Council Revises Integrated Reporting Framework
Published - 5 March, 2020
The International Integrated Reporting Council has announced that it will be revising its framework on Integrated Reporting this year. The focus of the revision is to emphasise how organisations can use the Framework more effectively. The IIRC wants to respond to changes in recent years, as demand grows for corporate reporting on issues such as the United Nations’ Sustainable Development Goals and climate change, along with stewardship and corporate governance, and inclusive capitalism.
The revision is planned for 2020 to coincide with the IIRC’s 10th anniversary. The IIRC first published the framework in December 2013, and this will be the first revision.
“The Framework itself is a core instrument in advancing the IIRC’s vision to align capital allocation and corporate behaviour with the wider goals of financial stability and sustainable development through the cycle of integrated reporting and thinking,” says Erik Breen, chair of the <IR> Framework Panel.
“The market’s voice is essential to the revision process because integrated reporting is, at its core, a market-led movement,” Breen adds.
The IIRC has identified some of the main themes around which it hopes to elicit feedback in three topic papers launched in February, covering: business model considerations, responsibility for an integrated report, and charting a path forward. Each topic paper separately invites market feedback via an online survey, to cater to respondents’ areas of interest, knowledge, and experience.
Feedback can be submitted to www.integratedreporting.org/2020revision/ until Friday 20 March 2020.
The timeline for the revision is as follows:
- February: Project launch
- February – March: Topic engagement
- May – August: 90-day consultation
- August – October: Analysis and drafting
- November – December: Approval and launch
Source: International Integrated Reporting Council