Integrated reporting has been developed to be consistent with a number of corporate reporting trends taking place across the globe. A range of market drivers are currently not being satisfied by complex and dated reporting methods. These include opportunities afforded by new technology, and the need for transparency, inclusiveness, and more information that is material to modern business.
The IIRC’s vision is to align capital allocation and corporate behaviour to wider goals of financial stability and sustainable development through the cycle of integrated reporting and thinking. To facilitate this vision, the International Integrated Reporting Framework has been created, it includes principles-based guidance and content elements to govern and explain the information within an integrated report.
The Framework was released in 2013 following extensive consultation and testing by businesses and investors in all regions of the world, including the 140 businesses and investors from 26 countries that participated in the IIRC Pilot Programme. This inclusive, market-led approach means that the Framework has been developed by business as a response to the new wider value creation model businesses have in the 21st century.