The International Integrated Reporting Council (IIRC) has issued a draft outline of the Integrated Reporting Framework.
“The concept of ‘integration’, embedding value-relevant financial and non-financial information into strategic decision-making and a company’s reporting cycle, is gaining momentum as a vital step in the evolution of corporate reporting globally,” IIRC chief executive Paul Druckman said.
The outline follows a consultation period which began in September 2011 when the IIRC launched the discussion paper Towards Integrated Reporting – Communicating Value in the 21st Century.
The IIRC also confirmed it will launch a prototype framework by the end of 2012, a draft framework mid-2013 followed by the definitive version in late 2013.
Druckman added that integrated reporting is a market-led initiative aimed at giving stakeholders insights into how a company’s strategy creates value over the short, medium and long-term.