workshop on intangibles, intellectual capital & extra-financial information – an untilled...
TRANSCRIPT
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WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION
<IR> – an Untilled Field
Ian BallInternational Integrated Reporting Council
September 2014
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NGOs
Companies
Investors
Accounting
Standardsetters
Regulators
Chair: Prof Mervyn KingCEO: Paul Druckman
Who is the IIRC?
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Why <IR>: More than financials
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The Framework: Fundamental Concepts
The Value Creation Process
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Votorantim link <IR> to their Report 2012
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<IR> - Global Uptake
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South Africa endorses the Framework
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<IR> set for take-off in Singapore
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<IR> promoted by G100 and major Superannuation Funds
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Brazilian Stock Exchange calls for “Report or Explain” on Integrated Reporting
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European Commission hails <IR> as “step ahead”
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<IR> crucial part of ‘Japan’s Revitalization Strategy’
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Harvard Business School study hails <IR> as enabler of financial stability
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India: <IR> Lab backed by CII
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UK Guidance on Strategic Report consistent with <IR>
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Malaysian Prime Minister declares business take up of <IR>
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The World Bank implement <IR>
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Recommendation to G20 on <IR>
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Where do intangibles fit?
• Why the untilled field?• Does the field have well-defined boundaries?• What count as good examples?• How do we identify the best “measures”?• The “unique story”/comparability trade-off• Intellectual capital, human capital and social
and relationship capital – does the categorization work?
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Final Comments
• Attribution theory– In reporting– In relation to outcomes
• Public sector application– Initial focus of <IR>– Pioneer network
• Regulation– Not yet…
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InternationalIntegrated ReportingCouncil