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The Corporate Reporting Dialogue (CRD), introduced by the International Integrated Reporting Council, brings together organizations that have significant international influence on the corporate reporting landscape. By working together towards a common goal, participants aim to respond to market calls for better alignment and reduced burden incorporate reporting.
The CRD was officially launched at the ICGN (International Corporate Governance Network) Annual Conference in Amsterdam on 17 June 2014.
The organizations participating in the CRD are all involved with the issuing of international standards and frameworks. They share a common interest in Integrated Reporting and in improving the quality and consistency of global corporate reporting to provide increased certainty for businesses and investors alike. The CRD aims to promote greater coherence, consistency and comparability between corporate reporting frameworks, standards and related requirements, leading to improved efficiency and effectiveness.
Mrs Huguette Labelle, Chair of Transparency International and an IIRC Council member, has accepted the request from the participating organizations to chair the CRD and officially takes on her role today. She stated, “The corporate reporting landscape is changing. For too long, reporting has been fragmented and disconnected from the strategic drivers of value. In an interconnected world, isolated change is insufficient to reflect the complexities of modern business and investment practice. The CRD is a collaboration that will promote greater cohesion and efficiency, rebalancing reporting in favour of the reader, helping to re-establish the connection between a business and its principal stakeholders. It is a privilege to be chairing this initiative.”
The CRD will develop practical ways to bring alignment to the direction, content and ongoing development of reporting frameworks, standards and related requirements. Participants will share information, express a common voice on areas of mutual interest, and as the initiative progresses, will reach out to the broader corporate reporting landscape. The initial deliverable will be to develop a ‘Corporate Reporting Landscape’ highlighting the connectivity of the various reporting frameworks and standards and their relevance to Integrated Reporting.
Paul Druckman, IIRC CEO stated, “The purpose of the CRD is to strengthen cooperation, coordination and alignment between key organizations with Integrated Reporting as the umbrella. The need for this is continuously articulated in my discussions with companies, investors, regulators and other stakeholders across the world.
“At the creation of the IIRC we set out to be a catalyst for an evolution in corporate reporting - the formation of the CRD is at the heart of this, and is a significant step towards achieving our goal.”