Integrated reporting is a holistic concept that combines traditional financial reporting (such as the balance sheet or cash flow statement) with non-financial reporting elements (such as sustainability reporting, risk management reporting and corporate governance aspects). The business entity’s business model and strategy should be the focus. The goal is reporting that takes into account the needs of all stakeholders.

The Integrated Reporting Committee (IIRC)

As there are no standards or principles for integrated reporting so far, the Integrated Reporting Committee (IIRC) was founded in August 2010. The committee is made up of representatives from academia, corporate practice, auditing firms and other organisations (e.g. IASB, IOSCO or the World Bank), and its purpose is to develop an overarching framework concept and application guidelines. The IIRC works in three working groups: Engagement and Communication, Integrated Reporting Content und Integrated Reporting Governance.

Current developments

  • At the World Economic Forum in Davos in January 2011, the topic of integrated corporate reporting was discussed under the title "Accounting for New Realities: Redesign of corporate reporting".
  • In South Africa, a separate framework for integrated reporting was developed and a discussion paper was published in January 2011.
  • The IIRC published a discussion paper on integrated reporting on 12/09/11, which was open for comments from the interested public (end of comment period: 14/12/11).
  • In addition, the IIRC launched a pilot programme in autumn 2011 in which German business entities can also use the discussion paper for integrated reporting and provide feedback to the IIRC. KPMG is also participating as a business entity in the pilot project.
  • On 11/07/2012, the IIRC published a Draft Framework Outline (PDF in German, 243 KB), which includes a draft outline for an International Integrated Reporting Framework.
  • On 26/11/2012, the IIRC published a prototype of the International Integrated Reporting Framework (PDF in German, 1.9 MB).

Our Services

KPMG is involved in the activities of the IIRC both at the international level and at the national level and is monitoring further developments. We offer the following services:

  • Support in the implementation of integrated reporting.
  • Performance of gap analyses that identify gaps between today’s reporting and an integrated report.
  • Support in the development of alternative reporting formats.