The International Integrated Reporting Council (IIRC) today publishes its latest integrated report ‘Driving Cohesion‘ ahead of the merger with the Sustainability Accounting Standards Board (SASB) to form the Value Reporting Foundation.
The report was developed through a process of integrated thinking led by the IIRC Board and management. The process enabled a better understanding of the strategic big picture and external environment to build agreement that the merger with SASB is the most effective next step to achieve our dual focus of driving adoption of integrated thinking and reporting and simplifying the corporate reporting landscape.
Commenting, Charles Tilley, CEO, IIRC said: “Despite the challenges of 2020, the year will go down as one of the most significant in the history of the integrated reporting movement, success we continue to build on this year. Adoption of the <IR> Framework was bolstered through the global revision process we undertook, and interest and understanding of integrated thinking grew through the activities of our pioneering Integrated Thinking & Strategy Group.”
The report takes stock of the long shadow cast by the COVID-19 pandemic and its daily reminder of the interconnectedness between our economy and society, as well as the shared challenges we face as an international community.
The report highlights some of the positive responses, including an acceleration in digital innovation, rapid business model adaption and a renewed commitment from political, business and investment leaders to “build back better” – integrating sustainability considerations into all aspects of financial and business decision-making, creating a platform for sustainable prosperity.
It sets out how the IIRC has played its part, advocating for a globally accepted and comprehensive corporate reporting system and championing the principles and concepts in the <IR> Framework as essential components of a reformed system. During 2020, the IIRC formed an alliance with the other international framework and standards organizations.
Key to the IIRC’s success over the last ten years is the coaliton of businesses, investors, regulators, standard setters, accounting professionals, academics and NGOs that advocate for and support our goals.
This coalition will continue to play a leading role through the Value Reporting Foundation, as set out in the integrated report.
Charles Tilley added: “Our diverse and global Council has been crucial in helping us understand the broad market view of the corporate reporting landscape, so that we can target our guidance, technical development and outreach to support organizations effectively assess, manage and communicate how they create, preserve and erode value over time. We look forward to working with them under the Value Reporting Foundation.
“I would like to record our thanks to the team at Smart Media for once again supporting us in the delivery of this report.”
The report is also available as an HTML site.