Public sector takes up the transformational challenge of Integrated Reporting

17 November, 2014

New initiative launched at World Bank conference

Public sector organizations from around the world will come together in a unique initiative designed to help them improve transparency and build trust through Integrated Reporting <IR>.

The Public Sector Pioneer Network was launched today at the World Bank Public Sector Integrated Reporting Conference in Washington, where experts from organizations including the World Bank, United Nations Development Programme (UNDP), UK National Health Service (NHS), and the International Public Sector Accounting Standards Board (IPSASB), are gathering to explore why and how the public sector should be adopting <IR>. The Hon. David M. Walker, Former Comptroller General of the USA, also joined the panel discussion.

The initiative has been developed by the International Integrated Reporting Council (IIRC) in partnership with the Chartered Institute of Public Finance and Accountancy (CIPFA), and participants will be among the ‘first movers’ in <IR> in the public sector.

Helen Clark, Administrator of UNDP said, “Transparent, responsive, and accountable institutions are a vital part of what it takes to improve people’s lives and implement a sustainable development agenda. Integrated Reporting provides a framework to enhance transparency and accountability, linking social responsibility and sustainability to the long-term resilience of an organization. UNDP is delighted to participate within the Pioneer Network, and contribute towards this evolution in reporting for the public sector.”

Paul Druckman, CEO, IIRC said, “Public sector organizations are increasingly challenged with maintaining or improving outcomes within the same or reducing resources. Communicating how, and how well prepared they are, to achieve this will be critical to public accountability. Participants in the network will share views and experiences on how <IR> can be adapted to be fit for purpose for the public sector, with the end goal of improving transparency and building trust. I call on interested organizations to join the network to ensure it has a global and well informed coverage.”

Organizations already signed up include the World Bank Group, UNDP, the City of London Corporation, the Welsh Government and UK government departments.

Speaking at the launch of the network in Washington, Ian Carruthers, CIPFA’s Executive Director of Policy and Technical said, “With around one third of global GDP made up by the public sector, applying Integrated Reporting, and even better integrated thinking, could help make the necessary step change in transparency and accountability.

“Through giving a much clearer view of how and where public resources are used, as more and more public sector organizations from across the world take up the transformational challenge of Integrated Reporting, the understanding and trust of citizens can only increase.”

“This network is an important step along that road and a significant development for the public sector around the world.”