On 16 May 2024, the IFRS Foundation published an updated resource, the Transition to integrated reporting, to help companies that intend to apply both the Integrated Reporting Framework and the IFRS Sustainability Disclosure Standards.
The updated guide provides a phased approach for implementing the Integrated Reporting Framework and helps preparers to understand how IFRS Sustainability Disclosure Standards can be considered in their reporting journey. In particular, it aims to support companies preparing to implement the IFRS S1 General Requirements for Disclosure of Sustainability-Related Financial Information and the IFRS S2 Climate-related Disclosures, wherever companies may be on their integrated reporting journey.
The Integrated Reporting Framework is composed of three parts – Fundamental Concepts, Guiding Principles and Content Elements – which respectively provide the way, how and what of integrated reporting. The updated guide identifies three alternatives for developing an integrated report:
- Option A: Apply the Integrated Reporting Framework to an existing investor report.
- Option B: Publish an integrated report in addition to the annual report or regulatory filling.
- Option C: Combine existing reports as a precursor to integration using the Integrated Reporting Framework.
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