19 January 2021, London – The Chartered Institute of Management Accountants (CIMA), the world’s largest body of management accountants, welcomes the revised International Integrated Reporting <IR> Framework.
CIMA believes the revised <IR> Framework will provide organisations across the world with an even more valuable and refined mechanism to help improve their corporate reporting, focus on long-term value creation and increase stakeholder trust. CIMA is particularly pleased to see greater emphasis put on governance leadership and accountability, wider public interest disclosures, and sound evidence-based reporting.
Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting at The Chartered Institute of Management Accountants, said:
“The coronavirus pandemic has made abundantly clear that organisations cannot continue to solely base their corporate reporting and decision-making on past financial performance. They must now focus on a broad range of resources and relationships to provide a comprehensive, forward-looking picture of the organisation’s performance and its value-creation potential, particularly in an uncertain world. The revised <IR> Framework will provide organisations with high-quality standards to create relevant, reliable and comparable corporate reporting across the world.
“Moving towards integrated reporting is the best thing organisations can do to ensure long-term viability and success, create a better dialogue with stakeholders, and support sustainable economic growth in the post-pandemic world. Management accountants will continue to play a key role in driving this evolution by ensuring that they deliver the required financial and non-financial information to support integrated thinking, influence decision-making and create value.”