The International Integrated Reporting Council is asking for comments on how companies are using the framework it issued three years ago for reporting on matters beyond simply a company’s financials.
The IIRC has initiated a two-month comment period and is inviting businesses, investors, regulators, policy makers and other stakeholders to weigh in with their input. The framework involves areas such as sustainability, intellectual capital, governance, strategy and financial performance.
“We have seen 1,500 global companies adopt Integrated Reporting around the world, with its implementation already becoming mainstream in countries such as Japan and South Africa,” said IIRC CEO Richard Howitt in a statement. “This rapid adoption demonstrates the market view of the International <IR> Framework as a ground-breaking and beneficial tool. It’s now time for us to further assess how this tool is being used to assist the quality of the reporting, reinforce its relevance to new challenges and ensure it remains fully in tune with market needs.”
The IIRC also plans to convene focus groups around the world, in Australia, India, Italy, Japan, the Netherlands, Malaysia, Singapore, Spain, the United Kingdom and the United States, with other locations to be announced later. The IIRC is asking for feedback by April 30, 2017.