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Integrated reporting in South Africa Featured

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Integrated reporting in South Africa

The Integrated Reporting Committee (IRC) of South Africa welcomes the release of an international framework for an integrated report and applauds the International Integrated Reporting Council (IIRC) for its work.


The finalisation of the International Integrated Reporting Framework will go a long way to encourage organisations around the world to prepare an integrated report that shows their performance against strategy, explains the various capitals used and affected, and gives a longer term view of the organisation. The integrated report is regarded as the evolution of the traditional annual report because it offers a more holistic view of an organisation than financial performance alone, thus enabling investors and other stakeholders to make a more informed assessment of the organisation and its prospects.


South African organisations are acknowledged as among the leaders in this area of corporate reporting with many listed companies and large state-owned companies having issued integrated reports for the past three years. Integrated reporting is one of the recommendations of the King Code of Governance in South Africa 2009 (King III) and as such falls into the JSE’s listings requirements on an apply or explain basis.


The IRC will be reviewing the international Framework, considering its applicability in the South African context, and will communicate its view in the first few months of 2014. The IRC anticipates that it will organise a seminar on the Framework for companies and other interested parties (similar to that hosted by the IRC, JSE and IIRC to launch the Draft Framework in April this year) in Johannesburg in the first few months of 2014.  


The IRC is proud to have played a part in the development of the international Framework: it issued the world’s first discussion paper on integrated reporting in January 2011, some members of the IRC and its Working Group have participated in the IIRC’s Working Group, Technical Task Force and Technical Collaboration Groups, and the chairman of the IRC, Professor Mervyn King, was elected as the chairman of the IIRC. The experience of South African organisations on integrated reporting has been shared with the IIRC, and in addition, seven local companies (AngloGold Ashanti, Coega Development Corporation, Eskom, Gold Fields, Sasol, Strate and Transnet) are members of the IIRC’s international Pilot Programme of over 100 businesses and 35 investors. The Government Employees Pension Fund (GEPF) and Element Investment Managers are two local investors who are members of the IIRC’s international Investor Network.


The International Integrated Reporting Framework is available on www.theiirc.org

Last modified on Tuesday, 10 December 2013 11:18

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