The Institute of Management Accountants has been named a full voting member of the International Integrated Reporting Council.
The IIRC is a global coalition of regulators, investors, companies, standards setters, representatives of the accounting profession and non-governmental organizations that share a common goal of realizing the benefits of enhancing the value of corporate reporting.
“IIRC has succeeded in creating a call to action to transform corporate reporting and produce more effective external disclosures, which are currently too short term, complicated, voluminous and financially focused,” said IMA president and CEO Jeff Thomson in a statement. “That said, each market is different. IMA believes that the U.S. approach needs to be aggressive, but it must also consider the current reality of disclosure overload as well as the potential for litigation and reputation risk. More research is required to truly understand the needs of investors, analysts and data intermediaries, and IMA is prepared to be at the forefront of that thought leadership.”
Thomson will initially represent IMA on the Council. He previously authored a comment letter in response to IIRC’s Framework Consultation Draft in 2013.
Barry Melancon, president and CEO of the American Institute of CPAs, is also a member of the Council.
