The IFRS Foundation Trustees have today announced the membership of a new advisory group, the Integrated Reporting and Connectivity Council (IRCC).
The IRCC is an advisory body to the IFRS Foundation Trustees, the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB), providing guidance on how reporting required by the IASB and the ISSB could be integrated, and how the IASB and the ISSB could consider applying principles and concepts from the Integrated Reporting Framework to their projects.
The Chair of the IRCC is Charles Tilley OBE, former CEO of the International Integrated Reporting Council and former CEO of the Chartered Institute of Management Accountants. The IRCC’s Vice-Chair is Suresh Kana, a Trustee of the IFRS Foundation.
The membership of the group includes regulators from around the world, investors, national-standard setters, accounting professionals, academics and individuals from companies and non-governmental organisations.
Andreas Barckow, Chair of the IASB, said:
The IRCC will provide advice on issues relating to connectivity and integrated reporting, as well as important insights from markets around the world on how we can continue our journey towards increased adoption of the IR Framework and IFRS Standards. This will help to strengthen capital market infrastructure through better information and decisions.
Emmanuel Faber, Chair of the ISSB, said:
The principles and concepts of integrated reporting can help businesses to translate how climate and other sustainability-related financial risks and opportunities are connected to the strategy and business model – meeting investors’ needs and creating the conditions for a comprehensive corporate reporting system.
Charles Tilley, Chair of the IRCC, said:
As general-purpose financial reporting evolves to take account of material sustainability information and other drivers of business value, the integrated reporting framework can become an even more valuable tool for businesses and investors alike. I look forward to taking on the role of IRCC Chair.
The IRCC will hold its first meeting on Thursday 10 November and a summary of the discussion will be made available after the meeting.