Global public sector organizations have launched an initiative designed to help them improve transparency and build trust through integrated reporting.
The Public Sector Pioneer Network launched yesterday at the World Bank Public Sector Integrated Reporting Conference in Washington, DC, where experts from organizations including the World Bank, United Nations Development Programme, UK National Health Service, and the International Public Sector Accounting Standards Board gathered to explore why and how the public sector should be adopting IR.
The International Integrated Reporting Council, in partnership with the Chartered Institute of Public Finance and Accountancy, developed the initiative.
Organizations already signed up include the World Bank Group, UNDP, the City of London Corporation, the Welsh Government and UK government departments.
Businesses should adopt and implement the International Integrated Reporting Framework, and investors and stock exchanges should require companies to disclose this information, according to a report by the Global Commission on the Economy and Climate.