The International Integrated Reporting Council (IIRC) has released its 2016 integrated report on its progress in meeting its aim to promote Integrated Reporting as the main method of corporate reporting globally.
Although the IIRC has unveiled growing use internationally of their framework, the report revealed that with the scale of the challenges ahead, and with so many capital markets globally to get involved in, their resource constraints limit their capacity.
IIRC Chief Executive Officer Richard Howitt said that the reach of <IR> has increased by 58% in 2016. The report said that the number of best practice examples of businesses using <IR> has doubled over the year to 400. The IIRC has also launched a global training programme for <IR>.
The IIRC has stated its commitments, for example to the UN’s Sustainability Development Goals (SDGs) but the report said that the complexity of the corporate reporting system remains an obstacle to better reporting. Whilst investors are increasingly engaged, it will take time to bring about real behavioural change that builds the bridge between better reporting and better capital allocation.
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