Welcoming the news that the Securities and Exchange Board of India has published a circular asking the top 500 listed companies in India to adopt Integrated Reporting Richard Howitt, CEO, International Integrated Reporting Council said:
“This official circular from the securities regulator in India to the country’s top 500 companies, is another breakthrough moment for Integrated Reporting not just in India but internationally.
“It sends a very clear message that the current ‘Business Responsibility Report’ undertaken by these companies is a stepping stone to a fully integrated report with the clear aim of long-term value creation, as advocated in the International <IR> Framework.
“This action by SEBI puts corporate reporting at the centre of the current story of innovation and reform in the Indian economy. The conditions for Integrated Reporting adoption have been created by SEBI’s encouragement of an <IR> Lab, which is convened by the Confederation of Indian Industry, and which has seen some of India’s leading companies trial and implement Integrated Reporting.
“This statement from SEBI that Integrated Reporting is consistent with the principles of the world organisation of securities regulators IOSCO and encouraging Indian companies to reference Integrated Reporting inside their annual reports and on their websites, are notable decisions which will both help adoption in India and can be copied by other countries.
“The International Integrated Reporting Council thanks and congratulates SEBI on this historic development.”
Notes to Editors
The International Integrated Reporting Council (IIRC) is a global coalition of regulators, investors, companies, standard setters, the accounting profession and NGOs. The coalition is promoting communication about value creation as the next step in the evolution of corporate reporting.