The IIRC is beginning the process of refreshing the International Framework, and calling for market feedback on specific themes that will inform the nature and direction of the revision.
Coinciding with the IIRC’s tenth anniversary in 2020, the revision will respond to an evolving market context and further embed integrated reporting and thinking into mainstream business practice.This revision is the first since the <IR> Framework was published in December 2013.
The corporate reporting system has progressed considerably since then, with businesses around the world acknowledging the increased importance of a range of capitals beyond purely financial. Organizations are also adapting and responding to global megatrends, such as the Sustainable Development Goals and climate change, a growing focus on stewardship and corporate governance, and inclusive capitalism.
Within this context, integrated reporting has solidified its role in changing the way companies think, plan and communicate their value creation on a multi-capital basis.
Company boards are adopting the principles of integrated reporting to manage risks, opportunities and outcomes, and to report to investors and other stakeholders on their strategy, governance, performance and prospects for long term success. The focus of the revision is to emphasize how organizations can use the <IR> Framework even more effectively.
The IIRC has identified key themes around which it invites feedback, outlined in three topic papers – covering business model considerations, responsibility for an integrated report and charting a path forward.
Views can be shared here between Thursday 20 February and Friday 20 March 2020. Input on the topic papers will inform the proposals in a planned May 2020 Consultation Draft of the <IR> Framework.
Full press release on IIRC
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