Mazars, active supporter of the International Integrated Reporting Council (IIRC)

Mazars is an active supporter of the International Integrated Reporting Council (IIRC) which coordinates existing international attempts to create an integrated reporting framework and brings together companies, investors, accountants and regulators. This project is presented by Nick Landrot, Senior Manager at Mazars and Relationships Manager at the IIRC.

What is the objective of “integrated reporting”?

France is one of the first countries where it became common place to include extra-financial data in companies’ management reports. However, the current crisis shed new light on the necessity to make corporate communication simpler, clearer and easier to understand. Investors and, on a broader scale, social and economic players expect companies to provide them with a consolidated overview of their financial performance and their business model in order to confirm their capacity to create value over time.

The concept of integrated reporting is to gather in one single and coherent document information which is today scattered in various reports (financial statements, management report, governance or compensation report, corporate responsibility reports, documentation for financial analysts).

The integrated report is not a mere digest of the reports published throughout the year. It is the key-document that lays out in clear and concise terms the strategy and governance policy, as well as the current and foreseeable financial performance.  Directed mainly towards investors, it is a token of the companies’ capacity to create value over the short, medium and long term. 

“Over the last three years, the IIRC has built consensus around the idea that the current corporate reporting model must change to meet the needs of today’s business and investment environment. The Framework is the product of business and investor input and testing involving over 300 individuals and organizations. The IIRC has recruited businesses and investors to its Pilot Programme in 25 countries. So when I say this initiative is international in scope, and market-led in spirit, I mean it.” explains M. Druckman, IIRC’s Chief Executive officer 

Why does Mazars support the work of the International Integrated Reporting Council (IIRC)?

The IIRC was created in 2010 to coordinate existing international attempts to create an integrated reporting framework and brings together companies, investors, accountants and regulators. In April 2013, the IIRC, released a consultation draft of an International Integrated Reporting Framework for review and comments by July 15, 2013. Feedback can be provided through the IIRC's website at

The IIRC plans to issue the initial version of the Framework in December 2013 and to update it periodically as IR evolves.Mazars is an active supporter of the IIRC and provides the organisation with specific resources to foster this dynamic among companies and, more broadly, economic and social decision-makers in France.

We strongly believe that this international initiative will provide added value to companies and will restore and reinforce the trust between companies and their stakeholders – investors, employees and civil society as a whole. 

Overall, what is the added value of such a programme for companies and financial organisations involved in the pilot programme?

The purpose of the Pilot Programme Business Network is to provide the IIRC with structured feedback on key building blocks in the Framework to inform its development and practical application and build business momentum towards the implementation of <IR>.Over 85 businesses from around the globe have joined the IIRC Pilot Programme Business Network since it was launched in October 2011. 

They are engaging with the IIRC and other community members through individual meetings, webinars, regional and sector networks, conferences and through a dedicated Pilot Programme community website. 

This wide-ranging interaction provides the opportunity to discuss and challenge developing technical material, test its application and share knowledge and experiences.A survey led with the first companies involved in the pilot shows that 95% of them believe that integrated reporting gives a clearer vision of their business model, 93% think it can also bring down some internal barriers and 95% regard it as an efficient tool to help boards determine relevant KPI for the company’ activities. In France, Danone and Natixis Asset Management are the forerunners, but many organisations should join them in the weeks to come. 

Through this partnership with the IIRC, Mazars aims to create a think tank bringing together French companies and investors, in order to prepare the operational launch of the reporting framework in December 2013.

Integrated Reporting will be implemented on a voluntary basis, as the IIRC favours concerted methods rather than mandatory and regulated reporting, even though we are convinced the concept will gradually be adopted by financial market regulators in the medium term.To participate in the pilot programme, please contact the IIRC :