CHICAGO (December 21, 2015) – Baker Tilly Virchow Krause, LLP (Baker Tilly) Chairman and CEO Tim Christen has been appointed to the International Integrated Reporting Council (IIRC), representing the American Institute of CPAs (AICPA).
As a member of the IIRC, Christen joins a global coalition of regulators, investors, companies, standard setters, the accounting profession and non-governmental organizations that share the goal of promoting value creation as the next step in the evolution of corporate reporting.
Integrated Reporting (IR) is a process that results in an integrated report designed to communicate all aspects of an organization’s value creation. The integrated report includes information about how an organization’s strategy, governance, performance and prospects create short- to long-term value in the context of the organization’s external environment.
“As part of Baker Tilly’s leadership position in the profession, we continue to advocate a reporting environment that benefits our clients and the global economy,” Christen said. “Alongside the AICPA, we support the work of the IIRC, which represents a critical shift in the way companies can convey success in a very fundamental way: the value they create for investors, stakeholders and society.”
The IIRC released its International Integrated Reporting Framework in December 2013, after which the IIRC moved into a new phase of activity – a ‘breakthrough phase’ – the goal of which to achieve a meaningful shift towards early adoption of the IR framework. The IIRC anticipates that IR will be recognized as the natural next step in corporate reporting globally, with evidence both of increased market adoption and benefits, and stakeholders prepared for and supportive of, majority adoption.
The council has an important role to play in the IIRC’s ongoing development during this breakthrough phase, as the primary forum in which members of the coalition committed to the advancement of IR come together to discuss and contribute to the direction and strategy of the IIRC.
The next meeting of the council takes place in Frankfurt, Germany, on April 27, 2016, where Christen will be officially introduced to IIRC members.
About Baker Tilly Virchow Krause, LLP (bakertilly.com)
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,700 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 territories, with 33,600 professionals. The combined worldwide revenue of independent member firms is $3.4 billion.