ACCA said it has “welcomed” the recent statement from The International Integrated Reporting Council (IIRC) and SASB (Sustainability Accounting Standards Board), where both groups confirmed their intention to merge.
The IIRC and SASB will together create a new group, entitled the Value Reporting Foundation.
Helen Brand, CEO of ACCA and a vice chair of the IIRC board said: “The formation of the Value Reporting Foundation is an important step forward in simplifying the corporate reporting landscape, unifying the considerable expertise of two organisations that clearly align on the sustainability and corporate reporting agendas.
“Since its creation, the IIRC has worked tirelessly to develop and deliver the framework, which ACCA has used in our own integrated annual report since its launch in 2013. And the SASB standards align closely with this.”
She added: “We see this move as a complementary one which will maintain the framework and place value at the heart of corporate reporting.
“I look forward to working with Janine Guillot, who will be CEO of the Value Reporting Foundation, Charles Tilley as special adviser, the Foundation Board and the Framework Committee on this merger to create a global organisation that will maintain the framework, ensure aligned and integrated thinking, and set sustainability disclosure standards for value creation.”