News
Following a roundtable discussion on 1 December 2011, Communicate magazine wrote an open letter to the International Integrated Reporting Council, IIRC, in response to its Discussion Paper, Towards Integrated Reporting: Communicating Value in the 21st Century. They believe that action is needed on reporting. Their respondents took the view that financial reporting is now sufficient, but that the same rigour should be applied to non-financial reporting. The IR Society was also in attendance.
Highlights from the letter:
- The issuer community feels that current reporting is regulated by vague guidance, which fails to provide “comparable, material metrics for analysts and regulators to consider in the domain of social capital and impairments to social capital.”
- Several of the respondents to our survey believe that the action needed is not in the direction of more guidance, but should rather stem from companies changing their internal reporting processes.
- Integrated reporting should target, according to our respondees, “ultimately all stakeholders who are affected by the business”.
The letter is published on the Communicate website.
Published: 5 January, 2012