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July 10, 2012

IIRC issues draft outline of integrated reporting framework

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.

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