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New York (April 17, 2013) – The American Institute of CPAs, the world’s largest member association representing the accounting profession, applauds the International Integrated Reporting Council for their release of the Consultation Draft of the International Integrated Reporting <IR> Framework. The Framework creates the foundations for enhanced corporate reporting and enables more effective communication of how companies create value over time.
Integrated Reporting <IR> links an organization’s strategy, governance and financial performance with the context within which it operates. <IR> can help businesses make more informed decisions and enable investors and other stakeholders to better understand how an organization is really performing.
The IIRC is calling on all stakeholders worldwide to read the framework and provide feedback during the public consultation period, which closes on July 15, 2013.
“The AICPA has long supported efforts to develop a voluntary global framework for business reporting to complement financial reporting. The release of the Draft Framework represents important progress toward this goal,” said Barry Melancon, CPA, CGMA, AICPA President and CEO. “We applaud the IIRC for fostering international collaboration and encouraging key stakeholders to contribute to the <IR> Framework, which we believe will facilitate meaningful adoption of <IR>.”
Melancon was recently appointed to represent the AICPA on the IIRC Council. The Council provides advice on the IIRC’s mission, role and governance practices through thought leadership, intellectual contributions and strategic insight.