IFAC CEO Ian Ball's GRI Presentation-Integrated Reporting and a Sustainable Economy

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Ian Ball, IFAC’s Chief Executive Officer's presentation at the Global Reporting Initiative (GRI)’s inaugural conference on Sustainability and Integrated Reporting in Melbourne, Australia-March, 2012.


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IFAC CEO Ian Ball's GRI Presentation-Integrated Reporting and a Sustainable Economy

  1. 1. Integrated Reporting and aSustainable EconomyIan BallCEO International Federation of AccountantsGlobal Reporting Initiative27 March 2012Melbourne, Australia
  2. 2. Integrated Reporting and a Sustainable Economy Why Greece wont go away By Laurence Knight Business reporter, BBC News 6 February 2012 Financial Crisis Enters New Phase By VIKAS BAJAJ Published: September 17, 2008
  3. 3. Integrated Reporting and a Sustainable Economy
  4. 4. Integrated Reporting and a Sustainable EconomyCalled to AccountBy Cathy Booth Thomas/Dallas Tuesday, June 18, 2002 State of the Enron By FRANK RICH Published: February 02, 2002 Report: Enron execs hid losses, made millions February 2, 2002
  5. 5. Integrated Reporting and a Sustainable Economy Financial Reporting remains critical• Global convergence to IFRS is a critical step, not yet achieved• In the public sector we are barely crawling, let alone walking• Adoption and enforcement of standards locally is a challenge
  6. 6. Integrated Reporting and a Sustainable EconomyEnhancing Transparency Through Reporting• Financial statements remain critical but do not tell the whole performance story• Concern with the reporting model is not new and various initiatives have attempted to deal with the challenges
  7. 7. Integrated Reporting and a Sustainable Economy
  8. 8. Integrated Reporting and a Sustainable EconomyThe Opportunity of Integrated Reporting• Integrates sustainability of an organization from a financial, economic, social and environmental perspective• The International Integrated Reporting Council has wide multi- disciplinary political support to develop an integrated reporting framework• This is not intended to replace existing forms of reporting but to provide, in an integrated way, a clear and understandable picture of material financial and ESG issues
  9. 9. Integrated Reporting and a Sustainable EconomyWhat Is The Profession’s Role? • Ensuring that professional accountancy organizations require relevant knowledge acquisition • Helping accountants in practice and in business to acquire the skills and mindset needed • Helping develop the new model
  10. 10. Integrated Reporting and a Sustainable EconomyThe Role of IFAC • Member of the International Integrated Reporting Council and o Chair of Working Group o Providing technical staff support to the development of IR framework 2012: • Technical consultation papers on specific topics • Continuous involvement of Pilot Programme participants and others 2013: • Proposed integrated reporting framework.
  11. 11. Integrated Reporting and a Sustainable EconomyThe Role of IFAC • Professional accountants in business o Promoting and providing guidance on integrated and ESG reporting and on incorporating sustainability into management processes o Encouraging effective governance and business reporting processes • Small and medium practices o Enhancing advisory services of SMPs • IAASB o Assurance of GHG Emission statements (ISAE 3410) and other assurance (ISAE 3000)
  12. 12. www.ifac.org

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