The Integrated Reporting Committee (IRC) of South Africa
In May 2010, the Integrated Reporting Committee (IRC) was established to develop guidelines on good practice in integrated reporting. It was founded by SAICA and four other major South African organisations, the Association for Savings & Investment South Africa (ASISA), Business Unity South Africa (BUSA), Institute of Directors in Southern Africa (IoDSA), and the Johannesburg Stock Exchange (JSE. Professor Mervyn King was elected as the first chairman of the IRC.
Other organisations have since joined the IRC - Banking Association South Africa (BASA), Chartered Secretaries Southern Africa (CSSA), Batseta (Principal Officers Association), Government Employees Pension Fund (GEPF), Institute of Internal Auditors (IIA SA), Financial Services Board, SASBO (the finance trade union). In addition, there are some individual members of the IRC - Dr Gavin Andersson, Dr Bob Schole, Ansie Ramalho and Leigh Roberts (IRC Working Group chairman).
The objectives of the IRC, as stated in its Constitution, are:
- To establish and to procure the recognition and acceptance of what the Committee considers is or should be good practice in integrated reporting.
- To design, disseminate and promote standardized integrated reporting reflecting the economic, environment and social dimensions of an organisation’s activities.
- To promote the international harmonization of integrated reporting by working with the International Integrated Reporting Council. And in this regard to consider the recommendations of the King Code on Governance reports.
SAICA played a major role in founding the IRC and continues to support the IRC by serving as secretariat to the IRC and the IRC Working Group.
The IRC can be very proud that it developed the world’s first discussion paper on integrated reporting which was released in January 2011. This discussion paper fed into the development of the International Integrated Reporting Framework released in December 2013 by the International Integrated Reporting Council. See the IR Guidance page.
For more information on the IRC please go to the www.integratedreportingsa.org