IIRC issues Discussion Paper on Integrated Reporting, proposes a new approach to corporate reporting

On 12 September 2011, the International Integrated Reporting Committee (IIRC) released a Discussion Paper Towards Integrated Reporting – Communicating Value in the 21st Century. The IIRC seeks to bring together world leaders from the corporate, investment, accounting, securities, regulatory, academic, civil society and standard-setting sectors to develop a new approach to reporting.

The Discussion Paper is the first step in the development of an 'International Integrated Reporting Framework', with an exposure draft expected to be published in 2012. It seeks to build on existing developments in reporting such as the international convergence of accounting standards, sustainability guidance published by organisations such as the Global Reporting Inititative (GRI), and the IASB's IFRS Practice Statement Management Commentary.

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