IRC of SA – Integrated Reporting SA

CGISA/JSE Awards 2023

IRC of SA — Tue, 21 Nov 2023 10:12:38 +0000

Congrats to Exxaro Resources, Nedbank, Redefine Properties, Pan African Resources, Sea Harvest, GEMS, DBSA and SAICA for winning their categories in the CGISA/ JSE Integrated Reporting Awards 2023. View the full list of winners and the judges’ report.

Fitting it all together

IRC of SA — Mon, 18 Sep 2023 12:32:41 +0000

The latest information Paper from the IRC, A global comprehensive corporate reporting system, sets out some approaches to structuring your corporate reporting suite, centring on the integrated report and integrated information.

Comprehensive Corporate Reporting

IRC of SA — Mon, 18 Sep 2023 12:04:40 +0000

Wondering how the new sustainability standards can fit into your corporate reporting suite? The IRC’s latest Information Paper puts the standards in the context of the board’s role in reporting, the existing sustainability standards, and the integrated report. To access click here

A new era: S1 and S2

IRC of SA — Tue, 04 Jul 2023 21:28:20 +0000

The International Sustainability Standards Board (ISSB) has released its first two IFRS Sustainability Disclosure Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures. The Standards are being positioned as a ‘global baseline’ to which a country’s national reporting requirements and practices and multi-stakeholder sustainability standards (e.g. GRI) can be ‘layered’. The ISSB Standards are voluntary, unless mandated by a country’s national reporting authority for legal enforcement. The ISSB has also released supplementary documents, including Guidance. Click to access the IFRS website page with the Standards and documents.

Winning reports: EY Excellence in IR Awards 2023

IRC of SA — Tue, 04 Jul 2023 21:20:31 +0000

Congratulations to Nedbank for winning the EY Excellence in IR Awards 2023; Redefine Properties and Kumba Iron Ore took the second and third spots.To access the results click here.

Winning reports – CGISA/ JSE Integrated Reporting Awards 2022

IRC of SA — Sun, 13 Nov 2022 21:27:45 +0000

Congratulations to Nedbank for winning the CGISA/ JSE Integrated Reporting Awards 2022.
View the full list of winners in all categories, listed and unlisted companies and the judges’ report.

Code for Responsible Investing in SA

IRC of SA — Wed, 28 Sep 2022 12:23:05 +0000

South Africa’s Second Code for Responsible Investing in South Africa, 2022 (CRISA 2) was released in September 2022. It builds on the first CRISA Code (2011) and contains five voluntary principles for stewardship and responsible investment as a key component of the South African governance framework. The Codes recommend integrated reporting. To download CRISA 2 click here.

Winning reports – EY Excellence in IR Awards 2022

IRC of SA — Tue, 13 Sep 2022 13:06:11 +0000

Congrats to Nedbank for winning the EY Excellence in IR Awards 2022, followed by Redefine Properties and Netcare taking the third spot. For the Awards brochure click here.

IR into IFRS Foundation

IRC of SA — Wed, 03 Aug 2022 07:27:55 +0000

On 1 August 2022 the IFRS Foundation announced the completion of the consolidation of the Value Reporting Foundation (VRF) into the IFRS Foundation. The VRF’s Integrated Reporting Framework provides connectivity between financial statements and sustainability-related financial disclosures. The ISSB and IASB actively encourage continued adoption of the Integrated Reporting Framework to drive high-quality corporate reporting. For the IFRS Foundation press release click here

IFRS Foundation statement sets out future of IR

IRC of SA — Wed, 25 May 2022 10:27:45 +0000

The IFRS Foundation, on 25 May 2022, released a statement articulating the future path for integrated reporting. It offers clarity following the Value Reporting Foundation’s consolidation on 30 June 2022. The International Framework becomes the joint responsibility of the Chairs of the IASB and ISSB and their message is to carry on adopting the International Framework. The statement is available here. For a better understanding of what this means in practice, click here for an outline.

A new inter-connected approach to sustainability standards

IRC of SA — Thu, 24 Mar 2022 15:42:09 +0000

The IFRS Foundation and the GRI have signed an MoU to align capital market (IFRS Foundation) and multi-stakeholder standards (GRI) to create an interconnected approach for sustainability disclosures. The compatibility should ease the reporting burden [...]

Climate change reporting changes in the US

IRC of SA — Sun, 20 Mar 2022 08:14:25 +0000

The US Securities and Exchange Commission (SEC) is updating, after a public consultation period, for amendments on the enhancement and standardization of climate-related disclosure for investors. The proposed rule changes will require climate-related disclosures in registration and [...]

Update from the IRC

IRC of SA — Fri, 18 Mar 2022 13:46:13 +0000

This Update, released on 14 March 2022, addresses some of the recent international developments in corporate reporting. It sets out the IRC’s technical focus for 2022, which includes comment submissions and developing practical FAQs to explain the new international sustainability standards and how they can fit with the integrated report. Click here to view the IRC update.

Furthermore, please see an additional update from the Value Reporting Foundation – click here.

JSE Sustainability Disclosure Guidance

IRC of SA — Thu, 10 Mar 2022 12:00:00 +0000

In June 2022 the JSE released two guidance papers setting out sustainability and climate disclosure guidance for listed companies. The papers serve as guidance and are not a part of the Listings Requirements. To access the guidance papers click here.

The IRC submitted a comment submission on the draft guidance released in December 2021. To view the IRC’s commentary submission, click here. The IoDSA and King Committee provided further context in their comment submission. To view the IoDSA and King Committee’s comment submission, click here.

ISO 37000 – A call for comments on IR

IRC of SA — Tue, 08 Mar 2022 12:00:00 +0000

The ISO 37 000 Standard guides governing bodies to report, in an integrated manner, on its governance and the organization’s performance, generation of value (creation, erosion, and preservation), resource stewardship, financial resources, and other matters. Input is sought on the current demands of governing bodies for integrated reporting. The comment deadline is 21 March 2022.

https://docs.google.com/forms/d/e/1FAIpQLSdO51cPNVR9zkoXj77aFgL7pKduNNscQ1g3JaEs8YdbCYNRQw/viewform

Winning reports -EY Excellence in IR Awards 2021

IRC of SA — Wed, 22 Dec 2021 06:49:47 +0000

Congrats to Redefine Properties for winning the EY Excellence in IR Awards 2021, followed by Nedbank in second place, and Kumba Iron Ore ranked third. For the Awards brochure click here.

The JSE’s draft sustainability guidelines

IRC of SA — Wed, 15 Dec 2021 05:44:54 +0000

The JSE has released guidelines for sustainability and climate disclosure. While intended primarily to assist JSE-listed companies, the guidance will also be of value to institutional investors and the different entities that they invest in (including non-listed companies and debt issuers), as well as a range of stakeholder groups interested in sustainability/ESG disclosure and performance. The guideline papers are open for public comment until 28 February 2022. Click here to view the papers.

Integrated Thinking principles

IRC of SA — Wed, 15 Dec 2021 05:39:56 +0000

Embedding and checking …. The VRF has launched a Prototype of key principles of integrated thinking, and are designed to be embedded into an organisation’s business model and applied across key activities overseen by the Board and managed by the senior management team. Click here to view the principles.

Presentations_IRC Annual Conference 2021 International developments in reporting: A practical look for preparers

IRC of SA — Tue, 23 Nov 2021 14:58:22 +0000

The presentations for the 2021 Annual Conference on Integrated Reporting sessions can be found at the links below:

The future of corporate reporting
Professor Mervyn King, Chair of the IRC and Chair emeritus of the Value Reporting Foundation
No presentation

The role of the new International Sustainability Standards Board (ISSB)
Professor Suresh Kana, Deputy chair of the IRC and a Trustee of the IFRS Foundation
Click here to view slides

What we could see in climate reporting
Michael Zimonyi, Policy & External Affairs Director of the Climate Disclosure Standards Board (CDSB)
Click here to view slides

How GRI reporting fits in corporate reporting
Bastian Buck, Chief of Standards, GRI
Click here to view slides

The new process disclosures and the IRC’s Updated Governance Information Paper
Fay Hoosain, IRC Working Group and director of BTI (Pty) Ltd
Click here to view slides

Trends in integrated reporting in South Africa
Jayne Mammatt, IRC board member, director at PwC, adjudicator of the CGISA Awards
Click here to view slides

The prototype Integrated Thinking principles
Dr Jeremy Osborn, Director of business relationships & networks, Value Reporting Foundation
No presentation

The International <IR> Framework (2021)

IRC of SA — Thu, 18 Nov 2021 11:05:55 +0000

The International Integrated Reporting Council (IIRC) released the revised version on 19 January 2021. This version supersedes the original Framework of 2013 and is effective for reporting periods commencing 1 January 2022 but earlier adoption is welcome.

Download the International Framework (2021) here.

The IIRC published various accompanying documents setting out the feedback received during the consultation process, the analysis of the feedback and the subsequent treatment of the feedback. To view these documents, click here.

Further information about the IIRC can be found on its website.

The ISSB and the VRF

IRC of SA — Wed, 03 Nov 2021 10:53:52 +0000

The International Sustainability Standards Board (ISSB) has been formally announced. The ISSB will be formed by the consolidation of the Value Reporting Foundation (VRF – the merged IIRC and SASB) and the CDSB into the IFRS Foundation. Click here for the media release and FAQs. The VRF will consolidate into the IFRS Foundation on 1 August 2022.

IRC Annual Conference 2021 International developments in reporting: A practical look for preparers

IRC of SA — Tue, 26 Oct 2021 04:45:15 +0000

Webcast

To view the webcast, please click here.

Download the presentations

To download the presentations slides, please click here.

IRC Annual Conference 2021 – Programme

9:00 – 9:05	Welcome Leigh Roberts, CEO of the IRC
9:05 – 9:30	Address: The future of corporate reporting Professor Mervyn King, Chair of the IRC and Chair emeritus of the Value Reporting Foundation
9:30 – 10:00	Address: The role of the new International Sustainability Standards Board (ISSB) Professor Suresh Kana, Deputy chair of the IRC and a Trustee of the IFRS Foundation
10:00 – 10:30	Presentation: What we could see in climate reporting Michael Zimonyi, Policy & External Affairs Director of the Climate Disclosure Standards Board (CDSB)
10:30 – 10:40	10-minute break
10:40 – 11:10	Presentation: How GRI reporting fits in corporate reporting Bastian Buck, Chief of Standards, GRI
11:10 – 12:00	Panel discussion: A panel of experts on the practical implications for preparers: materiality, value creation, preservation or erosion, enterprise value, different reports and governance Mohamed Adam, IRC Working Group and King Committee, Mark Hoffman, IRC Working Group and partner at Deloitte, Karin Ireton, IRC Working Group and TCFD consultant, Corli le Roux, IRC Working Group and member of the GRI’s Global Sustainability Standards Board and Leigh Roberts, CEO of the IRC
12:00 – 12:20	20-minute break
12:20 – 12:45	Presentation: The new process disclosures and the IRC’s Updated Governance Information Paper Fay Hoosain, IRC Working Group and director of BTI (Pty) Ltd
12:45 – 13:15	Presentation: Trends in integrated reporting in South Africa Jayne Mammatt, IRC board member, director at PwC, adjudicator of the CGISA Awards
13:15 – 13:40	Presentation: The prototype Integrated Thinking principles Dr Jeremy Osborn, Director of business relationships & networks, Value Reporting Foundation
13:40 – 13:45	Thanks and closing remarks Leigh Roberts

The IRC Annual Conference 2021 was generously sponsored by

Speaker profiles

Access the speaker profiles here

Previous conferences

Access the presentations and webcasts of our previous Conferences

Transition to IR: A Guide

IRC of SA — Wed, 06 Oct 2021 06:53:15 +0000

The Value Reporting Foundation has released Transition to integrated reporting: A Guide to getting started Its aimed at helping new preparers develop a transition plan to integrated reporting.

Marked-up version of the International Framework (2021)

IRC of SA — Wed, 18 Aug 2021 13:24:19 +0000

This marked-up version offers the reader a quick look at the changes in the International Framework (2021) over the original 2013 version. The new content has been highlighted and deletions are noted in comment boxes. To view the marked-up copy, click here. To view the revised version of the International Framework (2021), click here:

Aligning internal and external integrated reporting

IRC of SA — Wed, 18 Aug 2021 12:46:40 +0000

The content areas and six capitals of the integrated report offer a useful structure for holistic internal reporting and driving integrated thinking.

See the Integrated Reporting Committee (IRC) of South Africa’s latest Information Paper Aligning Internal and External Integrated Reporting by clicking here.

The Octopus model

IRC of SA — Tue, 17 Aug 2021 13:45:48 +0000

The octopus model, also known as the umbrella approach, explains how an organisation’s different reports can fit together.

Updated Governance Information Paper

IRC of SA — Tue, 17 Aug 2021 13:42:03 +0000

The Paper has been updated for the changes in the revised Framework. The Disclosure of Governance Information in the Integrated Report (Updated): An Information Paper includes a new section, with examples, of the processes involved in the preparation of the integrated report. Click here to view the paper.

Management Commentary

IRC of SA — Wed, 28 Jul 2021 08:53:46 +0000

The International Accounting Standards Board (IASB) in May 2021 released an Exposure Draft on Management Commentary to update its original voluntary Practice Statement released in 2010.

The IASB is currently in the process of considering the public comments received during the consultation period ending 23 November 2021. The paper can be accessed here, and it should be read in conjunction with the Basis for Conclusions on Exposure Draft Management Commentary document (which can be accessed here).

To view the IRC comment submission click here.

IOSCO sets out the pace

IRC of SA — Sun, 11 Jul 2021 11:07:07 +0000

The International Organization of Securities Commission (IOSCO) sets out its vision and expectations for the IFRS Foundation’s work on a global baseline for sustainability standards. IOSCO also released an interesting new report on issuers’ sustainability-related disclosures.

IOSCO Media Release

IIRC merges with SASB

IRC of SA — Fri, 11 Jun 2021 03:01:49 +0000

The new Value Reporting Foundation focuses on offering three resources tools: integrated thinking, the Framework and the SASB standards. The full media release on this development can be found here.