The IIRC published revisions to the Framework in January 2021 to enable more decision-useful reporting. The revisions, the first since the Framework was originally published in 2013, are the result of extensive market consultation with 1,470 individuals in 55 jurisdictions.
About the Framework
The purpose of the Framework is to establish Guiding Principles and Content Elements that govern the overall content of an integrated report, and to explain the fundamental concepts that underpin them.
The Framework takes a principles-based approach. The intent is to strike an appropriate balance between flexibility and prescription that recognises the wide variation in individual circumstances of different organizations while enabling a sufficient degree of comparability across organizations to meet relevant information needs. It does not prescribe specific key performance indicators, measurement methods, or the disclosure of individual matters, but does include a small number of requirements that are to be applied before an integrated report can be said to be in accordance with the Framework.
Seven Guiding Principles underpin the preparation and presentation of an integrated report, informing the content of the report and how information is presented:
- Strategic focus and future orientation
- Connectivity of Information
- Stakeholder Relationships
- Materiality
- Conciseness
- Reliability and completeness
- Consistency and comparability
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Author
IIRC