Mazars fosters the work of the 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.
Value creation: investors and companies foster the integrated reporting
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.
The pilot programmes
The Pilot Programme is comprised of the Business Network and the Investor Network. The Business Network has over 100 leading businesses testing the principles of <IR> in their corporate reporting cycle and the Investor Network is made up of over 30 organizations who are providing an investor’s perspective on the shortfalls of current corporate reporting.
Through the Pilot Programme, the principles, content and practical application of <IR> are being developed, tried and tested by businesses and investors. It will run until September 2014. This timeframe integrates the publication of version 1.0 of the Framework in December 2013, thereby allowing participants’ time to test the Framework during their following reporting cycle. This will enable the IIRC to assess <IR> outcomes and complete its work.
Mazars and integrated reporting
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. In France, workshops will be organized with 7 companies already involved in the IR to work on the implementation of the IR.
Moreover, Mazars accepted to share its annual report during the sectorial workshops. The case study across the two days of the Conference that took place last June in Frankfurt, aims to translating key concepts, principles and content from the Consultation Draft into tangible and practical approaches to reporting. The discussions between participants highlighted the added value of this unique approach in the accounting and advisory sector, as the different areas for improvement in our annual report.
Useful links: www.theiirc.org
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Mazars, active supporter of the 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.
The IIRC in Francfort
Business transparency was one of the three focus points at the G8 summit in June. The British Government, the summit's host, stated that a lack of transparency is creating a barrier to responsible investment.