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XBRL Conference Dublin
18 April 2013
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What is <IR>?
Who is the IIRC?
Consultation Draft
XBRL
Outline
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• communication • value creation over time • a periodic integrated report
<IR> is a process
• strategy, governance, performance and prospects
• external environment • creation of value over the short,
medium and long term
An integrated report is a
concise communication
• in accordance with the Framework • primarily for providers of financial
capital • of benefit to all stakeholders
It is prepared
What is <IR>?
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The essence of <IR>
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What is <IR>?
Who is the IIRC?
Consultation Draft
XBRL
Outline
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NGOs
Regulators
Companies
Accounting
Standard setters
Investors
Chair: Prof Mervyn King CEO: Paul Druckman
Who is the IIRC?
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IIRC PILOT PROGRAMME
BUSINESS NETWORK
INVESTOR NETWORK
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… globally accepted framework … strategy, governance, performance and prospects … clear, concise and comparable … evolution of corporate reporting … financial, governance, management commentary
and sustainability reporting … adoption by report preparers … recognition of standard setters and investors.
Mission
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… corporate reporting norm … organizations, their investors and other
stakeholders … informed decision-making … efficient capital allocation … creation and preservation of value … more sustainable global economy.
Vision
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What is <IR>?
Who is the IIRC?
Consultation Draft
XBRL
Outline
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INVITATION TO SHAPE THE
FUTURE OF CORPORATE REPORTING
www.theiirc.org/consultationdraft/2013
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FRANÇAIS (FRENCH)
Pусский (RUSSIAN)
ESPAÑOL (SPANISH)
普通话
(CHINESE)
PORTUGUÊS (PORTUGESE)
日本語 (JAPANESE)
ENGLISH
العربية(ARABIC)
ITALIANO (ITALIAN)
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FUNDAMENTAL CONCEPTS
GUIDING PRINCIPLES
CONTENT ELEMENTS
Core features
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FUNDAMENTAL CONCEPTS
GUIDING PRINCIPLES
CONTENT ELEMENTS
• INTRODUCTION
• THE CAPITALS
• THE BUSINESS MODEL
• VALUE CREATION
Core features
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Natural capital
Social and relationship
capital
Human capital
Intellectual capital
Financial capital
Manufactured capital
Financial capital
Manufactured capital
The capitals
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FUNDAMENTAL CONCEPTS
GUIDING PRINCIPLES
CONTENT ELEMENTS
• INTRODUCTION
• THE CAPITALS
• THE BUSINESS MODEL
• VALUE CREATION
Core features
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FUNDAMENTAL CONCEPTS
GUIDING PRINCIPLES
CONTENT ELEMENTS
• STRATEGIC FOCUS
AND FUTURE ORIENTATION
• CONNECTIVITY OF INFORMATION
• STAKEHOLDER RESPONSIVENESS
• MATERIALITY AND CONCISENESS
• RELIABILITY AND COMPLETENESS
• CONSISTENCY AND COMPARABILITY
• INTRODUCTION
• THE CAPITALS
• THE BUSINESS MODEL
• VALUE CREATION
Core features
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FUNDAMENTAL CONCEPTS
GUIDING PRINCIPLES
CONTENT ELEMENTS
• STRATEGIC FOCUS
AND FUTURE ORIENTATION
• CONNECTIVITY OF INFORMATION
• STAKEHOLDER RESPONSIVENESS
• MATERIALITY AND CONCISENESS
• RELIABILITY AND COMPLETENESS
• CONSISTENCY AND COMPARABILITY
• ORGANIZATIONAL
OVERVIEW AND EXTERNAL ENVIRONMENT
• GOVERNANCE • OPPORTUNITIES
AND RISKS
• STRATEGY AND RESOURCE ALLOCATION
• BUSINESS MODEL
• PERFORMANCE
• FUTURE OUTLOOK
• INTRODUCTION
• THE CAPITALS
• THE BUSINESS MODEL
• VALUE CREATION
Core features
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Questions to be answered
Connections
apparent
Not a set sequence
Not isolated, standalone sections
Unique value creation story
Content elements
• ORGANIZATIONAL
OVERVIEW AND EXTERNAL ENVIRONMENT
• GOVERNANCE • OPPORTUNITIES
AND RISKS
• STRATEGY AND RESOURCE ALLOCATION
• BUSINESS MODEL
• PERFORMANCE
• FUTURE OUTLOOK
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READ IT – CRITIQUE IT – FEEDBACK TO US
APRIL
16
JULY
15
Consultation period
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What is <IR>?
Who is the IIRC?
Consultation Draft
XBRL
Outline
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• Capturing/organizing information
• Connectivity • Within an integrated report
• With company generated
• With external information
• Consistency and comparability • Principles-based versus set disclosures
XBRL
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www.theiirc.org/consultationdraft2013