The merger is now official and the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB) have combined to form the Value Reporting Foundation. It will support business and investor decision-making and help to provide an understanding of enterprise value. The new body – first announced in November 2020 – will also deliver a more coherent corporate reporting system by working closely with the IFRS Foundation and others. The move is an important step towards action in this area.

By more closely aligning the Integrated Reporting Framework and the SASB Standards, the Value Reporting Foundation will make it easier for businesses to communicate their long-term strategy and provide a more comprehensive view of business performance to investors and other providers of capital.

Janine Guillot, CEO, Value Reporting Foundation said: “We have listened to the strong demand from businesses and investors for a simplified corporate reporting landscape. By combining the tools, resources and relationships of SASB and IIRC, the Value Reporting Foundation will continue to advance progress towards a more coherent landscape and continue to support the important efforts of the IFRS Foundation. The end result will be comparable, consistent and reliable information that enables more holistic decision making by businesses and investors.”

Dr Nigel Sleigh-Johnson, Director of ICAEW’s Technical Strategy Accountability Group, concurred: “We welcome the formation of the Value Reporting Foundation. Bringing together the IIRC and SASB provides companies with a more comprehensive set of tools to report on their long-term enterprise value creation and marks an important milestone along the road towards the truly international and cohesive corporate reporting system ICAEW has long called for.”