Contact: James Schiavone, 212-596-6119, firstname.lastname@example.org.
New York (December 9, 2013) – The American Institute of CPAs, the world’s largest member association representing the accounting profession, commends the International Integrated Reporting Council for their release of the International Integrated Reporting <IR> Framework. The Framework, which was adopted by the IIRC Council, will create the foundation for enhanced corporate reporting and enable companies to better communicate how they 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 by considering all of their potential sources of value. <IR> also allows investors and other stakeholders a deeper understanding of the value an organization creates over the short, medium and long term.
The release of the Framework follows a three-month global consultation period led by the IIRC earlier this year, which prompted more than 350 responses.
“The AICPA commends the IIRC for developing an integrated reporting framework through extensive international collaboration and the participation of key stakeholders, who approach the issue with different perspectives,” said Barry Melancon, CPA, CGMA, AICPA President and CEO. “The <IR> Framework will provide companies the foundation for enhanced business reporting and benefit investors by serving as a complement to financial reporting.”
Melancon represents 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.
More information on the framework is available on the IIRC website.