IFAC and the IIRC work together as strategic partners with a shared vision of the evolution of corporate reporting for the 21st century in which Integrated Reporting plays an important role, as does the alignment and clarity of corporate reporting frameworks, standards and requirements to drive coherence, consistency and comparability across the reporting landscape.
IFAC believes it is important for the accountancy profession to be involved in, influence, and drive the development of enhanced corporate reporting. In the diverse roles they perform, professional accountants are central to successful and relevant corporate reporting. Through innovation, leadership and capacity building, the global accountancy profession supports enhanced corporate reporting and the delivery of the vision for Integrated Reporting.
As the representative body of the global profession, IFAC specifically plays a key role in Integrated Reporting, advocating for its adoption through global institutions and its membership of professional accounting organizations.
The global adoption of Integrated Reporting will greatly depend on its acceptance in national jurisdictions and regions. IFAC therefore encourages its more than 175 member organizations in approximately 130 countries to promote awareness of Integrated Reporting; develop professional education and continuing professional development topics relevant to enhancing corporate reporting; and utilize their relationships, where appropriate, with governments and regulators to promote the global consistency and convergence of corporate reporting frameworks.
The IIRC and IFAC also believe that the Corporate Reporting Dialogue (CRD), facilitated by the IIRC, comprised of organizations that issue standards and frameworks with international impact can help to improve the quality and consistency of global corporate reporting to provide increased certainty for businesses and investors alike.