On Tuesday we were fortunate enough to attend an event with Professor Mervyn King the chair of the International Integrated Reporting Council. Professor King was in New Zealand to discuss a proposed international framework for integrated reporting.
The Council argues that the current corporate reporting framework is insufficient to provide investors and users with the information needed to make responsible, informed, high quality decisions. The Council considers integrated reporting a more effective governance tool for organisations to improve the way they report, and aim to create a globally accepted framework ensuring the availability of holistic, concise and comparable information.
Our vision is for [integrated reporting] to be accepted globally as the corporate reporting norm, benefiting organizations, their investors and other stakeholders by enabling informed decision-making that leads to efficient capital allocation and the creation and preservation of value. By encouraging a different way of thinking, [integrated reporting] will contribute towards the advancement of a more sustainable global economy.
The International Integrated Reporting Council has released a consultation document which aims to obtain comment on the draft international integrated reporting framework and you can view it here. The document is open for comment until the 15 July 2013. The slides from Professor King’s presentation can be viewed below, and to read more about integrated reporting see our 2011 survey One Integrated Report which surveyed New Zealand’s top 200 companies.