The International Integrated Reporting Framework, published in December 2013, sets the new reporting standard across the globe, and assigns very clear and public responsibility to the Board. The attached guide assists Audit Committee and Board members in their review of the Integrated Report.
The new International Integrated Reporting Framework – A review guide for Audit Committee members
In December 2013 the International Integrated Reporting Council published the International Integrated Reporting Framework (“the framework”). This framework has since been adopted in South Africa and sets the new reporting standard across the world.
It is important for Audit Committees to note that the framework assigns very clear and public responsibility to the Board as explained under the first section below. The overriding question remains whether the Integrated Report explains how the organisation has in the past and plans to create and sustain value into the short, medium and longer term.
The framework includes guiding principles and content elements, all of which needs to be appropriately addressed in order for the organisation to call its report an Integrated Report. This guide has been prepared to assist Board and Audit Committee members in their review of the Integrated Report and is drafted in a question and answer manner to allow for ease of reference.
If you have any questions or require a more detailed discussion on the content of the report, please contact Nina le Riche at firstname.lastname@example.org