Interserve Press Office | Apr 17, 2013
Interserve, the international support services and construction group, is supporting the launch of global consultation on a framework for integrated corporate reporting.
The 90-day consultation was launched today by the International Integrated Reporting Council (IIRC) and is available to view at the organisation's website (www.theiirc.org).
Chaired by Professor Mervyn King and led by CEO Paul Druckman, the IIRC is a global coalition of regulators, investors, companies, 'standard setters', the accounting profession and non-governmental organisations (NGOs). Its aim is to create a globally accepted Integrated Reporting (IR) framework that underpins and accelerates the evolution of corporate reporting, reflecting developments in financial, management commentary and sustainability reports.
IR benefits organisations, their investors and other stakeholders by enabling informed decision-making that leads to efficient capital allocation and the creation and preservation of value, while contributing towards a more sustainable global community.
The draft framework is available for responses from 16 April and 15 July. In December 2013, the IIRC will release the International IR Framework version 1.0.
Commenting on the launch, IIRC CEO Paul Druckman said: "Integrated reporting is not about more reporting – it is about better reporting. It is about conveying what matters and how to create value in the short, medium and long-term. It is the future for resilient business."
Tim Haywood, Interserve's Group Finance Director and Head of Sustainability, added:
"As a member of the IIRC, we are pleased to support its aim of developing a new corporate reporting model for the future. This market-led initiative is compatible with our own approach to reporting and ensuring robust governance at each stage in our journey towards becoming a sustainable business by 2020."
Interserve launched its SustainAbilities plan on 21 March which laid the foundations for the Company's continued growth and sustained performance.
Further information is available by visiting www.sustainabilities.interserve.com
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For further information please contact:
Head of Corporate Communications
0118 960 2332/07824 482 585
Richard Campbell/Ian Brown
0207 307 5334
Interserve's vision is to redefine the future for people and places. It is one of the world's foremost support services and construction companies, operating in the public and private sectors in the UK and internationally, offering advice, design, construction, equipment, facilities management and front-line services. Interserve is based in the UK and is listed in the FTSE 250 index. The Group employs some 50,000 people worldwide and in 2012 generated gross revenue of £2.3 billion.
About the IIRC
The IIRC's vision is for Integrated Reporting (IR) to be accepted globally as the corporate reporting norm, benefiting businesses, their investors and other stakeholders by enabling informed decision-making that leads to efficient capital allocation and the creation and preservation of value. By encouraging a different way of thinking, (IR) will contribute towards the advancement of a more resilient global economy.
Over 80 global businesses and 50 institutional investors are directly involved in the IIRC's work. This includes some of the world's most iconic brands, such as Coca-Cola, Clorox, Microsoft, Hyundai, Tata, Unilever, Marks and Spencer, SAP and National Australia Bank.