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Material matters are those that substantively affect our ability to create value over time.

The materiality determination process included a review of all governance meeting minutes and review by the management team, drawing on their experience, judgement and own engagement with stakeholders. Our Board reviews our conclusions and methodologies and provides constructive input and challenge. We have shortened the list from the prior year, reflecting the increased focus of our activities.


Material matter; description of risk/opportunity IIRC response
– what we have done      – ongoing      – what we will do
Link to strategic
themes and capitals
Corporate reporting system. Proliferation of reporting standards and initiatives causes confusion, reporting fatigue and fragmentation, hindering adoption of integrated reporting.
  • Established the Corporate Reporting Dialogue (CRD), which has created a reporting landscape map and a report towards better alignment of non-financial metrics.
  • As a member continue to support the CRD as a unifying force for the alignment of metrics and framework.
  • Engage with relevant global initiatives to promote the aims of integrated reporting, including the IASB management commentary practice statement, Impact Management Project.
  • Develop and mobilize a global adoption strategy for a unified corporate reporting system with integrated reporting providing the link between financial and non-financial reporting.
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Social & Relationship Natural
IIRC resource constraints. Resource constraints hinder ability to deliver of our strategy and achieve global adoption.
  • Maintain and grow the <IR> Business Network through creation of special interest groups and focus on recruitment.
  • Seek to increase Council contributions income and increased support from accountancy firms.
  • Review our fundraising strategy.
Funding Human
IIRC relationships. Amplify our reach and influence through leveraging further IIRC ‘family’ including the Board, Council, and Ambassadors.
  • Seek to leverage support from international business organizations and their national members, e.g. Global Network of Director Institutes and OECD Business and Industry Advisory Committee.
  • Perform a review of the role, processes and constituency of the Council to maximize its effectiveness and leverage its support.
  • Develop a model for country plans which leverages support of regional partners.
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Social & Relationship
Investor demand for integrated reporting. Visible demand from investors can provide further incentive to businesses to adopt integrated reporting.
  • Work closely with investor networks and bodies, in particular CFA Institute, PRI and ICGN.
  • Build further the evidence base on benefits of integrated reporting to investors through partnering on research.
  • Create a platform for investors and businesses to engage and interact to strengthen investor advocacy for integrated thinking and reporting, and ensuring the information needs of investors are met by the <IR> Framework and business practice.
  • Explore collaboration with ratings agencies and index providers, calling on them to support the concept of integrated reporting and to reduce confusion in the corporate reporting landscape.
Social & Relationship
Supportive regulatory environment. Regulatory support is considered the most significant factor in increasing market adoption.
  • Engage with supranational bodies (e.g. IOSCO, G20, OECD, WEF, EU, UN agencies, APEC), utilizing national member representatives to assist in this task.
  • Influence the development/revision of national corporate governance codes.
Social & Relationship
Ease of adoption.
The challenge of implementing integrated reporting may limit successful adoption.
  • <IR> Training Programme established with 11 training partners.
  • Delivered technical programme in response to the <IR> Framework Implementation Feedback.
  • Deliver an engaging and useful <IR> Business Network programme.
  • Maintain the <IR> Examples Database.
  • Revise the <IR> Framework in 2020.
Intellectual Human
Credibility of integrated reports.
Lack of quality/credibility of integrated reports undermines the benefits and concept of integrated reporting. The contribution of assurance to address this is critical.
  • See ‘Ease of adoption’ above
  • Engage with the IAASB Extended External Reporting (EER) Assurance Project.
  • Have our integrated report assured as an exemplar to the market and look to move from limited to reasonable assurance in the future.
  • Establish a committee to advance assurance practices.
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Intellectual Human Natural
Making the case for integrated reporting. Insufficient understanding or evidence of the benefits may limit adoption/support of integrated reporting.
  • Established <IR> Business Network Special Interest Group to develop thought leadership on the role of integrated thinking as a foundation of integrated reporting and inclusive decision making.
  • Created <IR> Academic Database housing relevant research.
  • Develop the business case for integrated reporting.