09.05.14
CIPFA launches public sector ‘Integrated Reporting’ network
CIPFA, the Chartered Institute of Public Finance and Accountancy, and the International Integrated Reporting Council (IIRC) have launched a new network promoting the use of Integrated Reporting (IR) across the public sector.
The new network will help identify and address key sector specific aspects for IR and facilitate the application of IR into public sector organisations.
Traditionally, IR offers a concise communication about how an organisation’s strategy, governance, performance and prospects, in the context of its external environment, will lead to the creation of value in the short, medium and long term.
Additionally, the network will be diverse and inclusive to ensure that the full range of experience and practice from across the public sector is brought to bear.
Speaking on the announcement of the new pioneer network, Ian Carruthers, CIPFA’s policy and technical director, said: “This is a huge step forward for integrated reporting and a significant development for the public sector around the world.
“With so much of global GDP spent by public bodies, applying integrated reporting principles will give a much more transparent view of how and where their resources are used. We hope that public sector organisations from across the world will take up the transformational challenge of integrated reporting and join this exciting new pioneer group.”
Currently, the International IR Framework offers principles based guidance which allows organisations to innovate and develop their reporting in the context of their own strategy, goals and objectives. IIRC technical director Lisa French added: “This network is a key opportunity for public sector organisations to use IR to understand and clarify the connectivity of the information they already publish.
“The aim of many public sector bodies to present a more complete, coherent and concise picture will be aided by the International IR Framework.”
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