IMA Appointed to International Integrated Reporting Council
Tuesday, December 9, 2014
Stern + Associates
Stern + Associates
Integrated Reporting Needs U.S. Strategy, Says Leading Management Accounting Association
MONTVALE, N.J., Dec. 9, 2014 –IMA® (Institute of Management Accountants), one of the largest and most respected associations focused exclusively on the advancement of the management accounting profession, has been named a full voting member of the International Integrated Reporting Council (IIRC). IMA, a global thought leader on the topic of integrated reporting (IR), is one of only three U.S.-based associations to achieve this honor.
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 integrated strategic thinking, improving external disclosures and enhancing the value of corporate reporting. IR assimilates financial and nonfinancial information to inform stakeholders about an organization’s short- and long-term value-creation capacity and capability. IIRC released its International Integrated Reporting Framework in December 2013.
“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 Jeff Thomson, CMA, CAE, IMA president and CEO. “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.
About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 70,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe and Middle East/Africa. For more information about IMA, please visit www.imanet.org