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First Integrated Reporting Framework Released

Date: 22 February 2011

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8 pages, 2 figures

EXECUTIVE SUMMARY

South Africa leads the world in developing and implementing the practice of integrated reporting. Integrated reporting creates a single report to all stakeholders synthesizing the most relevant financial and sustainability information. From March 1, 2010, all 457 firms listed on the Johannesburg Stock Exchange must produce an integrated report for financial years starting from this date, or explain why they have not done so. The Integrated Reporting Committee, formed in May 2010, released a framework for producing an integrated report for public discussion on January 25, 2011. This report highlights key considerations for firms preparing to adopt integrated reporting. In particular firms must carefully consider relevant and material economic, environmental, financial and social trends in order to fully describe their operating context. The integrated report should include summary financial information and direct readers to more detailed information on finance, governance and sustainability. Firms should seek independent assurance from auditors for both summarized financial and sustainability information.

TABLE OF CONTENTS

DISCUSSION FRAMEWORK DEFINES INTEGRATED REPORT STRUCTURE
Integrated Reporting Is Mandatory For Listed Firms In South Africa
Firms Must Place Business Model In The Context Of Sustainability

TABLE OF FIGURES

Figure 1. The Integrated Reporting Framework Outlined By The IRC
Figure 2. Integrated Reports Should Provide A Synthesis And Link To Further Resources

COMPANIES MENTIONED

AccountAbility, Deloitte, Ernst & Young, Gold Fields, Government Employees Pension Fund, Integrated Reporting Committee, International Integrated Reporting Committee, Johannesburg Stock Exchange, KPMG, Nedbank, Old Mutual, PwC