In a supportive response to the international integrated reporting framework launched by the International Integrated Reporting Council (IIRC), BDO International highlighted the need to develop a robust external assurance protocol.
Last April, the IIRC launched a consultation draft of the integrated reporting framework, which lays the groundwork for a more comprehensive corporate reporting model.
While BDO’s response embraced the IIRC’s initiative and described the framework as "a positive step toward bringing together diverse stakeholder communications, including annual and sustainability reports", it also highlighted room for improvement.
In particular, BDO suggested the development of a robust external assurance protocol to properly and consistently evaluate and report on an entity’s integrated report under the framework.
"An assurance model should add credibility and reliability to an integrated report," BDO’s response reads.
"However, there is a need for assurance standards to be developed to deal with the requirements of integrated reporting."
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
BDO believes that assurance providers will also need to improve their skills in understanding the nature of capitals and their relative importance in value creation in order to be able to provide an integrated assurance report.