IIRC Newsletter: Conference Special

IIRC Newsletter:
Conference Special

Global governance and reporting bodies convene business and investor leaders to drive shift towards long-termism

Leaders in business, investment and accountancy are meeting in Tokyo for a global conference jointly convened by the International Integrated Reporting Council (IIRC) and the International Corporate Governance Network (ICGN). The two-day conference, attracting over 400 people from more than 30 markets, is hosted by the Japanese Institute of Certified Public Accountants (JICPA) and the Japan Exchange Group (JPX) and aims to celebrate reforms under ‘Japan’s Revitalisation Strategy’ and take stock of future priorities.

This high-profile conference is convened in Tokyo, symbolic of the great strides and leadership shown by Japanese authorities towards corporate governance, investor stewardship and corporate reporting in the course of Japan’s economic revitalisation strategy. This is evident in the increased number of independent non-executive directors on boards, public commitment from investors to the Stewardship Code and the remarkable growth towards integrated reporting in Japan.

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Takaaki Nishii, President & CEO, Ajinomoto Co., Ltd addresses the conference

Research shows need for broader information for effective corporate reporting

A new research report, Purpose Beyond Profit, released at the conference reveals that executives believe they need better information to deliver future business success. In order to create sustainable value for all stakeholders, executives globally report an interest in taking a longer-term strategic perspective and having more insight into drivers of future performance.

Purpose Beyond Profit is a collaborative project between the Association of International Certified Professional Accountants (the Association) – the unified voice of the Chartered Institute of Management Accountants and the American Institute of CPAs – Black Sun and the IIRC. It’s based on a global survey of business leaders, analysing how value creation information is used and understood.

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Susanne Stormer, Vice President of Corporate Sustainability, Novo Nordisk discusses leveraging connections between reporting and governance to support long term value creation

The Japanese Institute of CPAs sets out its vision for the future of integrated reporting

The Japanese Institute of CPAs (JICPA) has released a position paper on integrated reporting and the role of professional accountants in achieving sustainable value creation.

The paper identifies the drivers of integrated reporting including linking governance and reporting, disclosure that allows efficient use of information, and enhancing credibility and reliability.

JICPA, which was instrumental in the development of the International <IR> Framework in collaboration with the IIRC, reiterates their support for the evolution of corporate reporting in the paper stating, “JICPA is committed to play a leadership role in enhancing corporate reporting in Japan to ensure that corporate reporting will strengthen a platform for reinvigorating capital markets and better adapting to changes in society and economy to achieve better community for all.”

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