The Chartered Institute of Public Finance and Accountancy (CIPFA) and the International Integrated Reporting Council (IIRC) are creating a public sector pioneer network to promote the implementation of integrated reporting (<IR>) in the public sector.
The joint project will be overseen by a steering group of participants and external organisations.
The network will help identify and address key sector specific aspects for <IR> and facilitate the application of <IR> to public sector organisations, according to the IIRC.
"This is a huge step forward for integrated reporting and a significant development for the public sector around the world," CIPFA’s policy and technical director Ian Carruthers said.
"With so much of global GDP spent by public bodies, applying integrated reporting principles will give a much more transparent view of how and where their resources are used."
"We hope that public sector organisations from across the world will take up the transformational challenge of integrated reporting and join this exciting new pioneer group," Carruthers added.
IIRC technical director, Lisa French said: "This network is a key opportunity for public sector organisations to use <IR> to understand and clarify the connectivity of the information they already publish. The aim of many public sector bodies to present a more complete, coherent and concise picture will be aided by the international <IR> framework".
