Johannesburg, 3 December 2014 - The Integrated Reporting Committee (IRC) of South Africa has released a publication aimed at assisting new preparers of integrated reports. Preparing an Integrated Report – A Starter’s Guide covers suggestions for planning and preparing an integrated report drawing on the wisdom of some of South Africa’s most experienced companies, and includes examples of various aspects of an integrated report.
Professor Mervyn King, chairman of the IRC, says: “We developed the Starter’s Guide in response to requests for assistance on how to begin the integrated reporting process. Importantly, the tips and suggestions come from South African companies which have years of experience and whose reports are highly regarded locally and internationally. The Starter’s Guide shows that the integrated reporting process need not be overly complex and is appropriate for larger as well as smaller companies. We hope that the Starter’s Guide encourages smaller companies to prepare integrated reports in the global move to better corporate reporting and improved readability.”
An integrated report differs from a traditional annual report as it gives a more holistic view of the organisation than financial performance alone by showing performance against strategy, explanation of the various capitals relied on or affected by business activities, as well as giving a longer term view of the organisation.
South Africa is widely acknowledged as a global leader in integrated reporting with many local listed companies now into their fifth year of preparing integrated reports. The country’s global dominance is largely thanks to King III (King Code of Governance for South Africa 2009) which recommends integrated reporting in its 75 principles. The JSE includes the principles of King III in its Listings Requirements on an apply or explain basis, meaning that listed companies should prepare an integrated report or explain their reasons for not doing so.
The IRC, a national body whose members are some of the leading organisations in South African business society, has also played a big role in the development of integrated reporting. It released the world’s first discussion paper on a framework for an integrated report (January 2011) and regularly hosts networking and information sharing events for companies and interested parties.
The organisational members of the IRC include the Association for Savings & Investment South Africa (ASISA), Banking Association South Africa (BASA), Batseta, Business Unity South Africa (BUSA), Chartered Secretaries Southern Africa (CSSA), Financial Services Board (FSB), Institute of Directors in Southern Africa (IoDSA), Institute of Internal Auditors (IIA), Government Employees Pension Fund (GEPF), JSE, and The South African Institute of Chartered Accountants (SAICA).
ABOUT THE IRC OF SOUTH AFRICA
The IRC was formed in May 2010 under the chairmanship of Professor Mervyn King. Its objectives are to develop and promote guidance on good practice in integrated reporting in South Africa. The IRC has a Working Group comprising of individual experts. For more information on the IRC and its Working Group see www.integratedreportingsa.org. The members of the IRC are the: Association for Savings & Investment South Africa (ASISA), Banking Association South Africa (BASA), Batseta (Council of Retirement Funds for South Africa, previously known as the Principal Officers Association), Business Unity South Africa (BUSA), Chartered Secretaries Southern Africa (CSSA), Financial Services Board (FSB), Institute of Directors in Southern Africa (IoDSA), Institute of Internal Auditors (IIA), Government Employees Pension Fund (GEPF), Johannesburg Stock Exchange (JSE), SASBO, The South African Institute of Chartered Accountants (SAICA), Dr Gavin Andersson, Ansie Ramalho, Leigh Roberts and Professor Bob Scholes.
SAICA serves as secretariat to the IRC.
Issued by: The Integrated Reporting Committee (IRC) of South Africa
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