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IIRC Integrated reporting framework - Coggle Diagram
IIRC Integrated reporting framework
In an attempt to build consensus among governments, listings authorities, business, investors and accounting bodies on the future shape of corporate reporting
Established guiding principles and content elements for an integrated report
Does not set benchmarks of assessing such things as the quality of the organisation strategy or the level of its performance, as assessments of this kind are the role of the report user, based on the information provided by the company in its integrated report
IIRC guiding principles are
Strategic focus and future oritentation
Connectivity of information
Responsivieness and stakeholder inclusiveness
Materiality and conciseness
Reliabilty
Comparability and constistency
The IIRC content elements for an integrated report are
Organisational overview and business model
Operating context, including risks and opporuntitties
Strategic objectives and strategies
Governance and remuneration
Performance
Future outlook
These content elements are not mutually exclusive and are fundamentally linked to each other
How a company presents the information in the integrated report should show this interconnectedness, rather than presenting the information in standalone silos
Historically information has been reported by department of function and is therefore difficult to asset the impact of one area on another in the organisation. According to the IIRC, integrated reporting should lead to a more accurate picture about what is going on in an organisation. In turn this should
Promote change in corproate behaviour, decision making and thinking with a focus on long term, in addition to medium and short term value, creation and preservation
Inform resource allocation by investors, again creating a focus on long term as well as the short and medium term value creation and prservation
Catalyse a more cohesive and comprehensive approach to corproate reporting that communicates the full range of factors that materially affect the ability of an organisation to create and preserve value over time