EU considers mandatory version of integrated reporting

04/22/2013 | · Bloomberg · Deutsche Welle (Germany)

The European Parliament is considering legislation that would require large companies to broaden corporate reporting and add environmental, social and governance risk. Groups representing German industry have objected to such a mandate. Meanwhile, the International Integrated Reporting Council has proposed a framework that would be a voluntary, worldwide effort. The IIRC proposal heralds a paradigm shift comparable to when 18th-century British factory owners added wage labor and large capital investment to double-entry accounting developed by Italian merchants in the Middle Ages.

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