Professor Mervyn King appointed to lead the global move to integrated reporting

Professor Mervyn King’s appointment as the new chairman of the International Integrated Reporting Committee (IIRC) has been widely welcomed and is viewed as a tribute to his work in advancing corporate governance, sustainability reporting and integrated reporting.

The IIRC is an international cross-section of leaders from the corporate, investment, accounting, securities, regulatory, academic and standard-setting sectors as well as civil society. Its mission is to create a globally accepted integrated reporting framework which brings together financial, environmental, social and governance information in a clear, concise, consistent and comparable format. The aim is to develop more comprehensive and comprehensible information about organisations to meet the needs of a more sustainable global economy.

Professor King was previously the deputy chairman of the IIRC. He is the current chairman of South Africa’s Integrated Reporting Committee (IRC). Both organisations work to develop guidance on integrated reporting. The IRC is currently in the process of aligning its Discussion Paper released in January 2011 with the recently released IIRC Discussion Paper (see www.sustainabilitysa.org for both Discussion Papers).

Recently, the World Federation of Exchanges (WFE) announced that Professor King is this year’s recipient of the WFE Award for Excellence. The WFE said the Award is in recognition of Professor King’s work in leading national commissions on corporate governance reform, and for driving forward a financial reporting framework that is better able to accommodate the complexity and need for transparency in this period of financial and economic turmoil – an integrated report. The Award will be presented to Professor King on October 13 2011 during a ceremony at the WFE Annual Meeting, hosted by the Johannesburg Stock Exchange. 

To read the WFE media release go to http://www.world-exchanges.org/news-views/press-releases/press-release-corporate-governance-reform-leader-mervyn-king-receive-wfe-a

For more information on the IIRC go to www.theiirc.org  (The IIRC media release on Professor King’s appointment is attached to this email.)

ISSUED BY:  The Integrated Reporting Committee (IRC)

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About the Integrated Reporting Committee (IRC) 
The IRC was formed in May 2010 under the chairmanship of Professor Mervyn King to develop and promote guidance on good practice in integrated reporting. The organisational members of the IRC are:

• Association for Savings & Investment South Africa (ASISA)
• Banking Association South Africa (BASA)
• Business Unity South Africa (BUSA)
• Chartered Secretaries Southern Africa (CSSA)
• Institute of Directors in Southern Africa (IoDSA)
• Institute of Internal Auditors (IIA)
• Government Employees Pension Fund (GEPF)
• Johannesburg Stock Exchange Ltd (JSE)
• Principal Officers Association (POA)
• The South African Institute of Chartered Accountants (SAICA)
• The Seriti Institute

The IRC commissioned a Working Group comprising financial and sustainability practitioners to develop its discussion papers. SAICA acts as secretariat to the IRC. For more information on the IRC go to www.sustainabilitysa.org