In this issue: Call for research proposals; Pilot Programme Businesses showcase their journeys towards <IR>; IIRC announce a Memorandum of Understanding; and more..
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IIRC Newsletter - January Edition
Call for research proposals to stimulate fresh insight into issues at the heart of the development of <IR>

Researchers are invited to submit proposals addressing three areas of Integrated Reporting that will be developed further, following the release of the International <IR> Framework. 

Michael Nugent, Technical Director- Framework Development, IIRC, said, "Integrated Reporting is market-led; it will evolve in line with business and users' needs. The IIRC is delighted that this call for research will help the IIRC to continue to develop its understanding of what those needs are and the role of <IR>."
The research brief has been issued together with the Association of Chartered Certified Accountants (ACCA) and the International Association for Accounting Education and Research (IAAER).  This invitation for research proposals is intended to stimulate fresh research into issues at the heart of <IR>. A combined sum of up to GB£50,000 will be awarded for up to three projects on:
  • an analysis of users' information needs
  • the relationship between materiality, completeness and conciseness in reporting 
  • the impact of factors such as organization size, ownership structure and source of financial capital on the supply and demand for integrated reports.
If you are interested in putting together a research proposal by the due date of 28 February 2014, please read the 
Call for Research Proposals: Integrated Reporting.
IIRC Pilot Programme Businesses showcase their journeys towards <IR>

Integrated Reporting has moved from a concept to a powerful tool for businesses. The IIRC has developed new webpages detailing what Pilot Programme Business Network participants are doing to move towards <IR>, and how they have benefited from embarking on this journey through the Pilot Programme. 

On Jones Lang LaSalle's page their Executive Vice President, Global General Counsel and Corporate Secretary, Mark Ohringer - explains the benefits of their involvement with the IIRC: "...the IIRC has definitely elevated our sophistication and enhanced our approach by giving us better tools by which to demonstrate how we have created a more sustainable organization with a more transparent business model."

CPFL Energia CEO, Wilson Ferreira Jr, states on their page: "...Integrated Reporting contributes effectively to the company's strategy by providing an integrated view of our business and supporting our investment decisions in the short, medium and long term."  

The IIRC announces latest Memorandum of Understanding

As part of the IIRC's collaboration with organizations in the global corporate reporting field, the IIRC has announced an alignment with the Sustainability Accounting Standards Board (SASB). 

The IIRC signed this MoU in order to more closely collaborate to advance the evolution of corporate disclosure and communicate value to investors.

The Memorandum of Understanding (MoU), signed by SASB founder and executive director Dr. Jean Rogers and IIRC CEO, Paul Druckman, outlines the basis for ongoing cooperation, collaboration and alignment between the two organizations. Among other measures, SASB and the IIRC agree to strive for complementarity and compatibility in the ongoing development of their respective frameworks, guidelines and standards, and take proactive measures to share the work of the other organization.

Commenting on the MoU, IIRC CEO, Paul Druckman stated, “We will work with SASB to identify ways and means by which the International <IR> Framework and SASB standards can be aligned to strengthen corporate reporting and disclosure.”

“SASB’s standards are a practical implementation of Integrated Reporting in the context of U.S. capital markets,” said Dr. Rogers. “The missions of SASB and the IIRC are aligned, and formalizing our partnership will strengthen harmonization and guidance to companies regarding improved disclosure on material sustainability factors. Both organizations put investors at the heart of determining materiality.”

Read the MoU.

Global accounting body includes Integrated Reporting in its qualification. 

Integrated Reporting will be introduced into an accountancy qualification from December 2014. The Association of Chartered Certified Accountants (ACCA) have announced that for the first time in the accountancy profession students will be examined on Integrated Reporting. 

Alan Hatfield, director of learning at ACCA, said, "We continue to enhance our syllabus on a regular basis to ensure that ACCA members are at the forefront of good practice. This means that we can be confident that ACCA members are complete finance professionals, equipped with skills to work in all sectors. 

"Most of the elements of Integrated Reporting were already included in our global syllabus, but we have taken the opportunity to bring them together and Integrated Reporting will form part of our assessment going forward. This is an area where ACCA members can show their leadership for the future, at the heart of long-term value creation for their organisations."

This announcement comes at the same time as the International Accounting Education Standards Board, an independent standard-setting body that serves the public interest by establishing standards in the area of professional accounting education, published International Education Standards, including a Learning Outcome that students should have the ability to 'interpret reports that include non-financial data, for example, sustainability reports and integrated reports
The International <IR> Framework 

Miss the video address from HRH The Prince of Wales at the curtain raiser of the International <IR> Framework?
Watch it now!
"2014: A radical approach to break down the silos is born; practice what you preach"

Read Paul Druckman's blog in The Accountant.
Join the Integrated Reporting discussion through our LinkedIn Group
Join the Integrated Reporting discussion through our LinkedIn Group
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