The IIRC published a summary report on international integrated reporting framework implementation feedback.
Since the release of the International <IR> Framework (‘the Framework’) in December 2013, the IIRC has focused on achieving a meaningful shift towards early adoption of Integrated Reporting. Over the next twelve months, the IIRC is giving serious consideration to upgrading its strategy to move to broader adoption of our Framework and recognition of Integrated Reporting as an accepted reporting norm.
The feedback indicated that the Framework stands up well to the challenges of implementation. It also pointed to several opportunities to provide guidance and examples and take other actions to help report preparers and other stakeholders continue to tackle those challenges.
There is clearly a choice to be made between giving sufficient time for companies to implement the Framework without changes being made, and updating the Framework in the light of experience and external developments.
The IIRC has carefully considered the small number of suggestions made in this exercise for Framework revisions, and concluded that none are of immediate concern to justify making those changes now. However, the IIRC undertakes to consider those suggestions further, along with other feedback, as the IIRC implements the actions proposed in this report.
They will also be reconsidered at a future date when any formal process to revise the Framework commences. The IIRC has concluded as part of deliberations on this exercise and the feedback given, that this will not be before 2019.
Full report
© IIRC
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