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IIRC increases collaboration with key organizations to evolve corporate reporting
The IIRC is continuing to work closely in collaboration with key partners, which is essential to our vision and mission. In recent months we have renewed a number of Memorandums of Understanding (MoUs) with standard and framework setters and umbrella organizations. The IIRC now has MoUs with CDP, Global Reporting Initiative, IFRS Foundation, International Federation of Accountants, Sustainability Accounting Standards Board, UNCTAD and World Business Council for Sustainable Development. Collaboration with these organizations is crucial for developing the corporate reporting landscape around the world and for building the pace and scale of <IR> adoption.
We continue to develop our work programmes with these organizations alongside our many other important partners. In this way we can ensure our partnerships lead to tangible outcomes and greater alignment.
Richard Howitt, CEO, IIRC was invited to present to the Trustees of the IFRS Foundation at its meeting in Paris. This provided an opportunity to reinforce the importance of financial reporting in the context of Integrated Reporting and to welcome continuing alignment. We are pleased to note the recent comment by Hans Hoogervorst, Chairman of the IASB, to the Committee on Economic and Monetary Affairs (ECON) of the European Parliament, stating that the IASB is looking at the role of Integrated Reporting as part of its better communication theme.
WBCSD hosted Richard Howitt at the World Economic Forum meetings in Davos in January 2017 where he spoke at the launch of WBCSD's new report 'Sustainability and enterprise risk management: The first step towards integration'. The IIRC welcomed this important and timely publication, which highlights the role that Integrated Reporting can play in bringing about a new mind set for considering risk.
Recently, we have agreed to work with GRI on a programme for the Corporate Leadership Group on Integrated Reporting - an opportunity for companies who are looking to do both sustainability and integrated reports.
IFAC has also set a standard for our partners, most recently by publishing a policy paper (see article above).