The International Integrated Reporting Council (IIRC) today releases the Draft Outline of the Integrated Reporting Framework. The Outline establishes for the first time the basic structure of the Framework and is intended to keep stakeholders informed as the Framework is developed.
The IIRC also announces that a prototype Framework will be released by the end of 2012, with the Draft Framework being produced for public consultation in early-mid 2013 and a version 1.0 of the Framework in late 2013.
Commenting on the release of todays Outline Framework, Paul Druckman, IIRC Chief Executive Officer, said:
Integrated Reporting is a market- led initiative, driven by business and investor needs to gain greater insights into how a companys strategy creates and preserves value over the short, medium and long term.
The concept of integration, embedding value-relevant financial and non-financial information into strategic decision-making and a companys reporting cycle, is gaining momentum as a vital step in the evolution of corporate reporting globally.
We are committed to a transparent process as we develop the first draft of the Framework and we welcome stakeholder thoughts on the overall structure of the Framework we set out in todays document.
Stakeholder support for the principle of Integrated Reporting has been overwhelming, demonstrated by the responses to the IIRCs 2011 Discussion Paper, Towards Integrating Reporting Communicating Value in the 21st Century.
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