IASB and ISSB communicate future plans for VRF’s Integrated Reporting Framework and Integrated Thinking Principles

The IASB Chair Andreas Barckow and the ISSB Chair Emmanuel Faber have communicated plans for the future role, governance and development of the Value Research Foundation’s (VRF) Integrated Reporting Framework and Integrated Thinking Principles.

As per these plans, the Integrated Reporting Framework and the Integrated Thinking Principles will become part of the materials of the IFRS Foundation. On consolidation of the VRF, the IASB and the ISSB will assume responsibility for the Integrated Reporting Framework. The IASB and ISSB will utilise principles and concepts from the Integrated Reporting Framework in their standard-setting work. The Integrated Reporting Council will become an advisory body to the IFRS Foundation Trustees and both boards and will be in this role for two years. At the expiry of two years the need for the separate Council will be reviewed by the Trustees of the IFRS Foundation. 

The statement by the IASB and ISSB may be accessed here.