workshop on intangibles, intellectual capital & extra-financial information – an untilled...

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WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION <IR> – an Untilled Field Ian Ball International Integrated Reporting Council September 2014

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Page 1: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION

<IR> – an Untilled Field

Ian BallInternational Integrated Reporting Council

September 2014

Page 2: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

NGOs

Companies

Investors

Accounting

Standardsetters

Regulators

Chair: Prof Mervyn KingCEO: Paul Druckman

Who is the IIRC?

Page 3: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

Why <IR>: More than financials

Page 4: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

The Framework: Fundamental Concepts

The Value Creation Process

Page 5: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

Votorantim link <IR> to their Report 2012

Page 6: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

<IR> - Global Uptake

Page 7: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

South Africa endorses the Framework

Page 8: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

<IR> set for take-off in Singapore

Page 9: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

<IR> promoted by G100 and major Superannuation Funds

Page 10: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

Brazilian Stock Exchange calls for “Report or Explain” on Integrated Reporting

Page 11: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

European Commission hails <IR> as “step ahead”

Page 12: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

<IR> crucial part of ‘Japan’s Revitalization Strategy’

Page 13: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

Harvard Business School study hails <IR> as enabler of financial stability

Page 14: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

India: <IR> Lab backed by CII

Page 15: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

UK Guidance on Strategic Report consistent with <IR>

Page 16: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

Malaysian Prime Minister declares business take up of <IR>

Page 17: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

The World Bank implement <IR>

Page 18: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

Recommendation to G20 on <IR>

Page 19: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

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?

Page 20: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

Final Comments

• Attribution theory– In reporting– In relation to outcomes

• Public sector application– Initial focus of <IR>– Pioneer network

• Regulation– Not yet…

Page 21: WORKSHOP on INTANGIBLES, INTELLECTUAL CAPITAL & EXTRA-FINANCIAL INFORMATION – an Untilled Field Ian Ball International Integrated Reporting Council September

InternationalIntegrated ReportingCouncil