The launch today of the IIRC’s Integrated Reporting Framework is welcomed by ACCA (the Association of Chartered Certified Accountants), saying this represents a landmark opportunity to break down the silos in corporate reporting.
Helen Brand OBE, ACCA’s chief executive says: 'Now is the time to put the Framework into practice. This presents a significant opportunity to refresh corporate reporting and to place investor’s needs central to the process.'
ACCA believes that IR brings a number of benefits because it offers a focus on the long term strategy and performance of a business. The Framework centres on the material information about an organisation’s governance, strategy, prospects and performance that reflect the commercial, social and environmental context within which the organisation operates.
Helen Brand adds: 'A better understanding of long-term risks to commercial models can only be of benefit to business and to the investor community. Explaining how corporate value is created and sustained is important, and the IR Framework enables business to do this.
'Ultimately, I hope that IR will restore trust in business – reporting models have been criticised in the past, but now is the time for change. I am sure the accountancy profession is ready and willing to show the necessary leadership to make that change happen.'
ACCA and IR
- Helen Brand, ACCA’s chief executive, is a member of the IIRC’s Council;
- Neil Stevenson, ACCA’s executive director – brand, sits on the IIRC’s Working Group;
- ACCA’s global network has been raising awareness of IR and supporting the IIRC’s outreach work for a number of years;
- ACCA’s Annual Reports for 2011 / 12 and 2012 / 13 have been produced using the IR Framework, giving a concise, clear and comprehensive picture of how ACCA has created value by making its strategy happen.