singapore will soon have a roadmap for <IR> adoption, backed by a sound body of academic and empirical evidence, following the creation this month of a market-led <IR> steering committee. “We are moving from concept to execution”, said Michael Lim, Chairman of the singapore Accountancy Commission (SAC) at a specially convened <IR> Forum on 22 April co-hosted with the Institute of Singapore Chartered Accountants (ISCA).
Malaysia’s Securities Commission accelerated its journey towards embedding <IR> within the business and investment practice this month by giving the strongest signal yet that it wants Malaysian businesses to adopt the International <IR> Framework. The Securities Commission hosted a 110-strong event with ACCA Malaysia entitled ‘Revolutionising the way we communicate value in Malaysia’.
“Europe is sending a strong signal to the rest of the world, advancing the global move towards Integrated Reporting” Richard Howitt MEP
The European Commission, which this month passed legislation that will require around 6,000 European entities to disclose on non-financial and diversity information, has hailed <IR> as a “step ahead”. In its memo, the Commission went on to say, “The Commission is monitoring with great interest the evolution of the Integrated Reporting concept, and, in particular, the work of the International Integrated Reporting Council.”
Public Sector Pioneer Network for <IR> set up to meet demand
A network for bodies in the public sector will be established to share views and experiences on how <IR> can be applied in the public sector, as organizations move to build trust and improve accountability.