The International Integrated Reporting Council (IIRC) has released its own 2016 integrated report, demonstrating how significant international progress is being achieved to make Integrated Reporting the global norm in corporate reporting.
In the report, the organization which underpins the global coalition sets out how it is continuing to create value, as well as its strategy for the short, medium and long term.
The report is published on the IIRC’s website and will be subject to a one hour ‘Twitter Q&A’ – inviting questions from across the world using the hashtag ‘#askIIRC2017’ between 13:30 and 14:30 BST today 31 July.
The new integrated report demonstrates growing participation in international <IR> networks, the increasing influence and reach of the IIRC Council, and an expanding role for the IIRC in bringing about alignment in the reporting system through the Corporate Reporting Dialogue.
<IR> Networks internationally are a key means of prompting innovation and interest in Integrated Reporting, with 2,000 people participating in an <IR> Network during 2016.
Over the year, the IIRC worked to nearly double the number of emerging best practice examples on offer to businesses thinking of adopting Integrated Reporting, with over 400 examples now on offer via the <IR> Examples Database.
The report also shows how the IIRC helped raise awareness and build capacity within organizations to implement Integrated Reporting through launching a global <IR> Training Programme, which is now available to businesses through a series of IIRC training partners across the world.
Commenting, Richard Howitt, Chief Executive Officer, IIRC said:
“During 2016 the reach of our <IR> Networks increased by 58%, enabling us to reach and support increasing numbers of businesses on their journey towards Integrated Reporting.
“Nearly doubling the number of good practice examples and developing a global ‘training offer’ are crucial to showing that adoption of Integrated Reporting is about improving quality as well as numbers.”
Commenting on the crucial role of the IIRC governance played to these developments during 2016 Richard Howitt added:
“The IIRC Council brings together some of the world’s leading figures in business, investment and financial regulation and this global coalition continues to be the prime engine to champion the transition to Integrated Reporting in the world.
“We were delighted to welcome the Ministry of Finance of China to our Council during 2016. They join a long list of international and regional bodies that are working together through us to ensure reporting is fit for purpose in the 21st century.”
The importance of the Corporate Reporting Dialogue features heavily throughout this integrated report, as the IIRC continues to work with standard setters and framework developers in the corporate reporting field to bring about alignment and clarity to what is currently a complex corporate reporting landscape.
Richard Howitt said:
“Through this report, we reiterate our commitment to working closely as convenor of this key initiative which brings together the major financial and non-financial standard-setters in the world, with the explicit ambition of driving alignment and coherence to the reporting landscape.”
The IIRC’s integrated report demonstrates the organization’s own learning journey in seeking to align with the <IR> Framework.
In an era where releasing large amounts of convoluted information is all too often the norm, the report is purposefully concise, linking to further information online for those looking for more detail.
The IIRC has focused on making the report understandable, using simple language and layout. The report was comprehensively influenced by the IIRC Board, the Directors each acknowledging their collective responsibility for the integrity of the report.
Richard Howitt concludes:
“I encourage everyone with a stake in the evolution of corporate reporting to take part in this session on Twitter using the #askIIRC2017 where I will answer your questions on the latest findings and statistics in this report.”