Chapter 4: Summary of requirements

The following table summarizes the bold italic type requirements of the <IR> Framework relevant to the preparation of an integrated report.

Application of the <IR> Framework
Form of report and relationship with other information	An integrated report should be a designated, identifiable communication.
Application of the <IR> Framework	Any communication claiming to be an integrated report and referencing the <IR> Framework should apply all the requirements identified in bold italic type unless: the unavailability of reliable information or specific legal prohibitions results in an inability to disclose material information; or disclosure of material information would cause significant competitive harm. In the case of the unavailability of reliable information or specific legal prohibitions, an integrated report should: indicate the nature of the information that has been omitted; explain the reason why it has been omitted; and in the case of the unavailability of data, identify the steps being taken to obtain the information and the expected time frame for doing so.
Responsibility for an integrated report	An integrated report should include a statement from those charged with governance that includes: an acknowledgement of their responsibility to ensure the integrity of the integrated report; and their opinion or conclusion about whether the integrated report is presented in accordance with the <IR> Framework. When legal or regulatory requirements preclude a statement of responsibility from those charged with governance, this should be clearly stated.
Guiding principles
Strategic focus and future orientation	An integrated report should provide insight into the organization’s strategy, and how that relates to its ability to create value in the short-, medium- and long-term and to its use of and effects on the capitals.
Connectivity of information	An integrated report should show a holistic picture of the combination, inter-relatedness and dependencies between the factors that affect the organization’s ability to create value over time.
Stakeholder relationships	An integrated report should provide insight into the nature and quality of the organization’s relationships with its key stakeholders, including how and to what extent the organization understands, takes into account and responds to their legitimate needs and interests.
Materiality	An integrated report should disclose information about matters that substantially affect the organization’s ability to create value over the short-, medium- and long-term.
Conciseness	An integrated report should be concise.
Reliability and completeness	An integrated report should include all material matters, both positive and negative, in a balanced way and without material error.
Consistency and comparability	The information in an integrated report should be presented: on a basis that is consistent over time; and in a way that enables comparison with other organizations to the extent it is material to the organization’s own ability to create value in the short-, medium- and long-term.
Content elements – specific questions that an integrated report should answer
Organizational overview and external environment	What does the organization do and what are the circumstances under which it operates?
Governance	How does the organization’s governance structure support its ability to create value in the short-, medium- and long-term?
Business model	What is the organization’s business model?
Risks and opportunities	What are the specific risks and opportunities that affect the organization’s ability to create value over the short-, medium- and long-term, and how is the organization dealing with them?
Strategy and resource allocation	Where does the organization want to go and how does it intend to get there?
Performance	To what extent has the organization achieved its strategic objectives for the period and what are its outcomes in terms of effects on the capitals?
Outlook	What challenges and uncertainties is the organization likely to encounter in pursuing its strategy, and what are the potential implications for its business model and future performance?
Basis of preparation and presentation	How does the organization determine what matters to include in the integrated report and how are such matters quantified or evaluated?