Dominic Barton, Senior Partner and former Global Managing Partner at McKinsey & Company, is appointed as the new Chair of International Integrated Reporting Council (IIRC), and will take over from Mervyn King, former governor of the Bank of England. Mr. Barton will lead IIRC to continue to promote the importance of integrated reporting and to encourage reforms in corporate reporting, as well as adding fresh thinking into the council.
Mr. Barton hosted an IIRC meeting in Paris on 4 October, in which a new strategic phase called ‘the Momentum Phase’ was launched. The new phase aimed at incorporating integrated reporting and thinking into corporate governance reforms, expediting the process of aligning corporate reporting system in pursuit of consistency and coherence, fostering the adoption of integrated reporting in the United States and China, and tackling challenges in macro-environment in aspects of sustainability and technology with integrated reporting.
According to Mr. Barton, promoting integrated reporting around the world can make a difference in companies and markets, thus making sure that they are contributing to society, to the planet and to their stakeholders. He also stressed the importance of creating and demonstrating values through integrated reporting which would be crucial for companies to build trust.
IIRC was founded in 2010 with a coalition of regulators, investors, companies, standard setters, the accounting profession and NGOs. In just eight years, there are a total of 1,600 organizations which have adopted the principle of integrated reporting, thus allowing them to clearly and concisely share their own story and how they make good use of their own resources in creating values.
Website of IIRC: http://integratedreporting.org/
