BRLF Background
Introduction
The International Integrated Reporting Council (IIRC) is creating a globally accepted business reporting framework: a framework which brings together financial, environmental, social and governance (ESG) information in a clear, concise, consistent and comparable format - put briefly, in an integrated report. The intention is to provide better insight about an organisation's strategy, total performance and future prospects, to meet the needs of the emerging, more sustainable, global economic model.
"The goal of the IIRC is not to increase the reporting burden on companies and other entities. Rather, it is to help them and all their stakeholders make better resource allocation decisions. All of us have a stake in a sustainable society. While integrated reporting alone cannot ensure sustainability it is a powerful mechanism to help us all make better decisions about the resources we consume and the lives we lead."
Ian Ball, CEO of the International Federation of Accountants and Co-Chair of the IIRC Working Group
The IIRC's first phase is to develop a Discussion Paper setting out a framework, overarching concepts and guiding principles, under which the future of corporate reporting can evolve. This Discussion Paper, once agreed by various global stakeholders will be presented at the G20 in November 2011 for consideration and potentially adoption by global leaders as the way forward for transparent and business-useful reporting.
Australian Response
The Society for Knowledge Economics (SKE) has undertaken a number of collaborative projects focusing on better management, monitoring and reporting by organisations on their use and development of intellectual capital and other intangible assets e.g. Australian Guiding Principles on Extended Performance Management (2005).
At the request of Stakeholders from a wide range of sectors, the SKE has convened a relevant multi-stakeholder group, called the Australian Business Reporting Leaders Forum's (BRLF) with a core purpose of:
'Collaborating with Australian stakeholders and working with global initiatives to promote and drive the development and implementation of a strategy-aligned integrated business reporting framework, thereby reducing complexity and enabling efficient allocation of capital.'
The BRLF will develop Australia's response to, and support of the IIRC.
The BRLF has also been working closely with the Worldwide Intellectual Capital Initiative (WICI). Over the last two years, WICI has developed a holistic strategy-centric business reporting framework, early days XBRL taxonomies (for efficient electronic data sharing) and emerging sector-specific KPI libraries. WICI is now working with the IIRC towards development of a single global solution.
Members & Observers of BRLF
The Australian Business Reporting Leaders Forum's (BRLF) is a multi-stakeholder group, established by the Society for Knowledge Economics (SKE) in late 2010 to collaborate with Australian stakeholders and work with global initiatives to promote and drive the development and implementation of a strategy-aligned integrated business reporting framework. The BRLF will develop Australia's response to, and support of the IIRC. The organisations that have attended the first two meetings include:
- Government, Regulatory Bodies & Standard Setters
- Professional and Industry Associations
- Business
- Public Sector Organisations
- Investors
- Accounting Firms
- Universities
Since inception, the list of interested parties has increased to include more companies, investors, associations, accounting and specialist sustainability firms. Participation is open to interested parties and all agendas and minutes of meetings will be made publicly available.
Publications and Minutes
2012
May 1st & May 8th, 2012
BRLF7 Agenda download
BRLF PPT Slide Pack download
Notes of FRC BRLF Discussions download
2011
November 28th & December 8th, 2011
BRLF6 Agenda download
BRLF PPT Presentation Pack download
BRLF Draft 2012 Objectives download
BRLF Meeting Minutes and Notes download
August 16th, 2011
BRLF5 Agenda download
BRLF Presentation Pack download
PwC Corporate Reporting download
KPMG Better business reporting download
April 11th, 2011
BRLF Notes of Meeting download
BRLF4 Agenda download
BRLF Presentation Pack download
GRI IIRC Briefing Document download
BRLF Working Group Business Case for Integrated Reporting - Draft Discussion Paper download
February 4th, 2011
BRLF Agenda download
Draft BRLF Governance Structure download
BRLF SubGroup Draft Workplan download
BRLF SubGroup Meeting Outcomes download
BRLF Working Group Business Case for Integrated Reporting download
BRLF Australian Landscape Review download
BRLF Presentation Pack download
2010
October 7th, 2010
BRLF Agenda download
BRLF Outcomes & Next Steps download
BRLF 7 Oct PPT download
BRLF Draft Workplan download
July 21st, 2010
BRLF Agenda download
BRLF 21 July Notes download
WICI 21 Jul PPT download
Paul Madden 21 Jul PPT download
BRLF Issues / Concerns Meeting Notes download
KPMG PPT download
Other Relevant Information
Outcomes from Responsible Investment India conference
download
Contact Us
Nick Ridehalgh - BRLF Project Lead
email: nridehalgh@kpmg.com.au
mobile: +61 417 661 927
Hayley Baines
email: hayley.baines@vamos.com.au
