The International Integrated Reporting Council and Sustainability Accounting Standards Board have merged to become the Value Reporting Foundation, marking a significant step towards simplifying the global corporate reporting system.
The foundation will be a global non-profit offering a comprehensive suite of resources that helps businesses and investors develop a shared understanding of enterprise value and how it is created, preserved or eroded over time.
The resources, including integrated thinking principles, an integrated reporting framework and SASB standards, can be used alone or in combination, depending on business needs.
These tools, already adopted in over 70 markets, comprise the 21st century market infrastructure needed to develop, manage and communicate strategy that creates long-term value and drives improved performance.
The merger is considered a vital development in the future of global corporate reporting.
Talking about it, Helen Brand, chief executive of the Association of Chartered Certified Accountants (ACCA) and co-vice chair of The Value Reporting Foundation Board, said: "Business and investors need a clear, consistent and comprehensive view of what enterprise value means in the modern world. An integrated approach is necessary for corporate reporting, and this is what the Value Reporting Foundation will help organisations deliver.
"This is essential as investors and other stakeholders demand more decision-critical information such as the need for environmental and social related disclosures and measurements, and how they drive corporate strategies. The Value Reporting Foundation will work to offer technical and practical guidance that will not only bring about better decision making within organisations, but help preparers write meaningful integrated reports that meet stakeholders' needs. — VNS
- Coronavirus impact | Global firms approach Indian IT firms for scenario planning: Report
- Hanoi’s new apartment launches lowest in five years
- Reliance Foundation to provide food to over 3 crore under world’s largest meal distribution programme
- Eros International, Hollywood's STX Entertainment to merge, create global content firm
- $137 bn at stake: How the divorce can impact global wealth ranking of Jeff Bezos
- China May Be Preparing to Launch Second Amphibious Assault Ship
- GLOBAL MARKETS-Asia stocks pull ahead on U.S. stimulus, oil rebound
- GLOBAL MARKETS-Stocks head for higher ground, oil stuck in a rut
- GLOBAL MARKETS-Stocks head for higher ground, Italian bond stress eases
- Global stocks head for higher ground, Italian bond stress eases
- GLOBAL MARKETS-Stocks slide and dollar rally runs as economic realities bite
- When $8 trillion in global fiscal stimulus still isn’t enough
- Boris Johnson Reportedly Pressured to Rethink UK Relationship with China that 'Lied' About COVID-19
- Stock Ideas: Emkay Global has buy rating on Reliance, target Rs 1,500
- China’s coronavirus cases drop to single-digit; private firms including Alibaba launch Covid-19 test services
- NHS staff should reuse PPE gear as a 'last resort', leaked government report reveals - as hospitals begin laundering single-use gowns and medics buy their own protective wear from DIY stores
- Trump and Biden launch battle over China that could define 2020 election
- India Inc's business confidence at lowest levels since the global financial crisis: Report
- Exclusive: Brazil to launch $1.9 billion credit scheme for micro firms - sources
- GLOBAL MARKETS-Stocks rally as investors take heart on U.S. economic reopening plan
Value Reporting Foundation launched to simplify global firms’ reporting have 509 words, post on bizhub.vn at June 16, 2021. This is cached page on Talk Vietnam. If you want remove this page, please contact us.