The IIRC has taken a distinct approach to this project, which we believe is in keeping with our role to be market-led and to provide global offerings that can be applied in different contexts to suit local practices and requirements.
- Outcomes-based: We have adopted a principles-based approach, setting out the learning outcomes required. This is an approach followed by many institutions and professions. It is also entirely in keeping with the principles-based approach of the International <IR> Framework itself. Users of the competence matrix therefore should not expect to discover a step by step guide to implementing <IR> through a process – which we continue to believe is best led by reference to the individual circumstances of each organization adopting integrated reporting and by learning from leading practice in the market.
- Integrated thinking embedded: Integrated thinking has been emphasized to ensure that this key aspect of <IR> is appropriately covered in the required competences. In fact, three of four areas of competence proposed in the matrix relate to the wider facets of reporting.
- Linked with governance: Through this offering, we aim to reinforce the close relationship between corporate governance and reporting. In particular, we draw out the role of leaders and the board – ‘introductory’ learning outcomes are included in the matrix which are relevant to those coming to <IR> for the first time and in particular directors and those responsible for oversight of the organization.
- Whole business perspective: While the reporting process is important and we have included learning outcomes relating to implementing integrated reporting itself, we do not believe practitioners should focus on process alone. The linkages that integrated reporting requires to strategy and its scope across the organization require a broader outlook. We have therefore included areas of competence around change management and leadership – areas which are essential in the context of ‘reporting on the whole business’, involving wide interactions within and outside the organization.