Sep 12

Written by: Leigh Roberts
9/12/2011 3:39 PM 

Hey, today is a glorious day. At long last, the International Integrated Reporting Committee (IIRC) released its Discussion Paper entitled 'Towards Integrated Reporting - Communicating Value in the 21st Century'.  The release marks the start of the development of a generally accepted framework for an integrated report.

 
An accepted framework can help make integrated reporting de rigeur rather than the domain of a few enlightened companies. An accepted framework assists in comparability among companies. An accepted framework can take corporrate reporting  into the 21st century. And a far-flung consultation process calling for comments on the draft framework facilitates the buy-in of the major players.    


The biggest benefit of an accepted framework, as I see it, is that corporate reporting has the power to change corporate behaviour. Integrated reporting can prompt companies to see how their financial performance and strategy depends on - and impacts - society, the environment and the economy.  This broader view can only be good for us all, including the company.


I like the IIRC's Discussion Paper. I think it gives a good high-level overview of an integrated report.  It offers a sound first step in the development process. Of course, I could criticise a few aspects and point out some omissions, but not today. Today, is indeed a gloripus moment for corporate reporting. 
(the Discussion Paper can be accessed on www.theiirc.org)
   

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