Professional association reacts to IIRC's new framework
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Professional association reacts to IIRC's new framework 11 December 2013New Jersey Reporter: Georgina Lavers
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In response to the International Integrated Reporting Council's (IIRC) international integrated reporting framework, professional management accounting association IMA (Institute of Management Accountants) has outlined several actions to transform corporate reporting to better serve the public interest.
"IMA and the IIRC are in complete agreement that disclosures must be improved in order to better inform investors and other key stakeholders about the sustainable value creation capacity and capability of enterprises," said Jeff Thomson, president and CEO of IMA.
IMA wrote a letter in June of this year that stated that the end goal should not be to produce a single, integrated report—it should be to motivate disclosures that better inform investors and other stakeholders as to the sustainable value creation capability and capacity of the organisation.
It also commented that a good first step would be to clarify and simplify existing disclosures. It may turn out that interlinked or interconnected reports will produce a higher ROI for investors.
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