Consultation Draft on the International Integrated Reporting Framework now available

For the past 6 months or so, I have been serving as an advisor to the International Integrated Reporting Council (IIRC). The goal of the IIRC is "to create the globally accepted International <IR> Framework that elicits from organizations material information about their strategy, governance, performance and prospects in a clear, concise and comparable format." The Consultation Draft on the International Integrated Reporting Framework now available. The framework utilizes a model of six forms of capital: financial capital, natural capital, manufactured capital, intellectual capital, human capital and social & relationship capital.  While this is somewhat different that the Intangibles Capital framework that I use, it is a useful construct to move to move toward greater acceptance of an expanded and integrated form of corporate reporting.  The IIRC is now soliciting comments on the Framework.  The comment period runs to July 15.  I urge everyone to take a careful look at the framework and submit their comments.

Cross posted from the Intangible Economy


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Comment by Kenan Jarboe on October 25, 2013 at 2:44pm

Nick --you are correct that this is an expansion/follow on to the UK work on the 5 capitals model.  Unfortunately I've not followed up since the consultation draft was released.  I think a SIG specifically on the issues of implementing the intellectual, human and social/relationship capital parts would be a good idea.

intellectual capital, human capital and social & relationship capital.  - See more at:
Comment by Nick Shepherd on October 25, 2013 at 11:57am

Hi Kenan - sorry I missed this post originally. Great to see you have been involved in an advisory capacity. This is a model that I have been watching with interest especially as it adopts much of the work that the SIGMA project in the UK created a few years earlier where they developed a model using 5 capitals. The UK accounting people were involved in this which provides some degree of hope in the future as does the involvement of IFAC (International Federation of Accountants) in the current initiative! However while this will create a developing awareness of intangibles it still leaves us with some major challenges in how, within IIRC, we actually identify, measure and report on the intangible aspects - but at least it brings many of them into the mainstream? Maybe there is a role for some of us to develop a SIG or working group to create some thoughts and ideas on how to do this? Have you been watching the pilot implementations and can we learn anything from this? Like to hear your thoughts.

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