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Integrated Reporting
The document outlines the establishment and objectives of the International Integrated Reporting Council (IIRC) and its connection with the International Federation of Accountants (IFAC). It discusses the shift towards integrated reporting as a means to improve transparency and enhance the storytelling of financial performance, sustainability, and governance in organizations. Additionally, it highlights the IIRC's pilot program to gather feedback and support the implementation of integrated reporting practices.
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Integrated Reporting
- 1. Integrated Reporting Stathis Gould InternationalFederation of Accountants Baruch College November 1, 2013 Page 1 | Confidential and Proprietary Information
- 2. IFAC Overview Contributing tostrong and sustainable organizations, financial markets, and economies Page 2 | Confidential and Proprietary Information
- 3. IFAC Operating Lines Developingand representing the profession; enhancing economic stability • Facilitating international standards • Quality and capacity • Knowledge and support • Speaking out Page 3 | Confidential and Proprietary Information
- 4. International Integrated ReportingCouncil Background • 2010 IIRC established – Founding members Prince’s Accounting for Sustainability and GRI supported by IFAC – Multi-stakeholder global coalition and market led • 2011 – Corporate entity established – Main offices in London; outreach posts around the globe – Pilot program set up Page 4 | Confidential and Proprietary Information
- 5. The Role ofIFAC • Member of the International Integrated Reporting Council • Former IFAC CEO chairs Working Group • Technical staff support • IFAC/IIRC Memorandum of Understanding Page 5 | Confidential and Proprietary Information
- 6. Beyond Financial Statements Page6 | Confidential and Proprietary Information
- 7. Volume of Reports 400 Prudentialannual report pages - 1850-2008 350 'Back end' pages 300 250 200 150 100 50 0 Page 7 | Confidential and Proprietary Information
- 8. Positioning Integrated Reporting Financial Performance International standards Sustainability Reporting Transparency Integrated Reporting Overall performance story INTEGRATEDTHINKING & MANAGEMENT Page 8 | Confidential and Proprietary Information
- 9. The Opportunity ofIntegrated Reporting • Responding to clutter, complexity, and length of reporting • Engaging investors & others on how strategy, governance, performance, and prospects lead to the creation and preservation of value Page 9 | Confidential and Proprietary Information
- 10. Pilot Program Business+ Investor Network • Provides the IIRC with structured feedback on key building blocks in the Framework to inform its development and practical application • Builds business momentum towards implementation of <IR> Page 10 | Confidential and Proprietary Information
- 11. A Business ModelApproach Page 11 | Confidential and Proprietary Information
- 12. IIRC Framework Consultation& Beyond • Fundamental concepts, guiding principles, content elements • Analyzing the 359 responses to consultation draft and issuing final IR Framework • Outreach and stakeholder engagement • Managing its networks and institutional arrangements Page 12 | Confidential and Proprietary Information
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