SAC stamps approval on Integrated Reporting

THE Singapore Accountancy Commission (SAC), a government statutory board leading the development of the accountancy sector here, has weighed in on the International Integrated Reporting (IR) Framework launched earlier this month.

In a statement released to the media yesterday, the SAC said it "is of the opinion that stakeholders of firms that adopt IR, regardless of their sophistications, will benefit tremendously because of better articulation of core values that facilitate better communication between firms and stakeholders".

The commission said it believes investors will value companies that adopt the framework as there would be greater information transparency and balanced interests among stakeholders.