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CEO Paul Druckman of Integrated Reporting (IIRC)
To: CEO Paul Druckman of Integrated Reporting (IIRC)

Email: paul.druckman@theiirc.org www.theiirc.org


From: Mr. Joseph Joh (Managing Editor: M: 010-5552-6288)

생산성본부 행사내용 소개 후 기사 올릴것


Q1: Explain to us about IIRC and what are IIRC's main purposes and primary roles?

A1: The International Integrated Reporting Committee comprises of world leaders from the corporate, investment, accounting, securities, regulatory, academic, civil society and standard-setting sector to develop a new approach to reporting. Its main goal is to look at corporate reporting in the round, and try to improve corporate reporting.

It’s principally focused on trying to get companies to report on how they create sustained value for shareholders, investors, and other stakeholders.

Q2: Why is integrated reporting becoming a new trend in financial report when still most companies are unwilling to change their existing financial reporting system?

A2: The international community recognizes that there is a momentum for improving the ways companies are reporting. There is currently an overload of reporting, and therefore, many companies are trying to stop moving towards different types or reporting - Integrated Reporting responds to their needs of creating an integrated framework from which to work with.

Q3: What effect and importance can the integrated reporting have on sustainability management?

A3: First, I’d like to say that Integrated Reporting is not the evolution of sustainability reporting - it is the evolution of Corporate Reporting.

However, what we must understand within Integrated Reporting is that we are looking at the short, medium and long term future of business in terms of creating sustained value. And this value is not just in the financial capital or manufactured capital business but right thorough the business cycle. That includes natural capital. So as part of a whole change in the way we perceive better reporting, sustainability is very important.

In the point of Sustainability Management, a company will find it very difficult to do Integrated Reporting without Integrated Management. And Integrated Management - a part of that - is sustainability management within an organization .

Currently, there are far too many silos from our specialty, which is reporting, through to the management of the business. And if sustainability remains a silo of management it is never really going to impact the business itself.

Q4: Korean companies are at a very early stage of sustainability reporting. In spite of their high interest in the integrated reporting, Korean companies still show low level of participation in it. What do you think is the reason?

A4: We must remember that Integrated Reporting and the IIRC was only launched in August 2010. Based on my meetings in Seoul, the interest was very high, and I expect high participation from both government and companies alike.

Q7: What specific industries can benefit from integrated reporting?

A7: All types of sectors can benefit from Integrated Reporting. For example, In October 2011, we launched the Integrated Reporting Pilot Programme, where we have a good cross section of companies, both geographically and sectorally, that are giving full input into the development of Integrated Reporting.

Both the IIRC and the Pilot Programme Companies are looking at different things from different sectors. For example, an organization that is based more on intellectual capital, has a very different focus from a company whose main focus is on human capital.

For now, many of those sectors that have already gone further with Integrated Report are those that really do impact on society and their work, such as health and food companies.


Q8: What are your advices for Korean companies to urge them to use more of integrated reporting?

A8: Here is an ideal opportunity for Korean companies to be a leader in Integrated Reporting, and I encourage these companies to join us and help us to make this into the new form of reporting that is the future of the corporate world.




 

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