IIRC definitions
| Word backwards | CRII |
|---|---|
| Part of speech | IIRC is an initialism and stands for "If I Recall Correctly." It is typically used as an adverb in sentences to indicate that the speaker is not completely certain about the accuracy of their statement. |
| Syllabic division | IIRC has 4 syllables: I-I-R-C |
| Plural | The plural of IIRC is IIRC. It is an acronym that stands for "If I Recall Correctly", so it does not have a specific plural form. It remains the same in both singular and plural usage. |
| Total letters | 4 |
| Vogais (1) | i |
| Consonants (3) | i,r,c |
What is IIRC?
IIRC stands for the International Integrated Reporting Council, a global coalition of regulators, investors, companies, standard setters, the accounting profession, and NGOs. It was founded on August 28, 2010, with the main purpose of promoting a paradigm shift in corporate reporting towards integrated reporting.
Understanding Integrated Reporting
Integrated reporting is a reporting framework that aims to provide a holistic view of an organization's performance. It goes beyond the financial aspects and includes information about the organization's strategy, governance, performance, and prospects for the future. The key idea behind integrated reporting is to enable stakeholders to understand how an organization creates value over time.
The Benefits of Integrated Reporting
Integrated reporting offers several benefits for both organizations and their stakeholders. It helps build trust and credibility with investors and other stakeholders by offering a more comprehensive view of the organization's performance. It also enables better decision-making by providing a clearer picture of the organization's value creation process.
IIRC Framework
The IIRC has developed a Framework for Integrated Reporting that sets out the guiding principles and content elements that organizations should consider when preparing an integrated report. The Framework emphasizes the importance of connectivity of information, materiality, conciseness, and reliability.
Key Principles of Integrated Reporting
The key principles of integrated reporting include strategic focus and future orientation, connectivity of information, stakeholder relationships, materiality, conciseness, reliability, and comparability. These principles guide organizations in preparing reports that are comprehensive and focused on value creation.
Conclusion
In conclusion, IIRC plays a crucial role in promoting integrated reporting globally. By adopting the principles and framework developed by the IIRC, organizations can enhance their reporting practices and communicate their value creation processes effectively to their stakeholders. Integrated reporting is not just about numbers; it's about telling a holistic and transparent story of how organizations create value in the short, medium, and long term.
IIRC Examples
- IIRC, we were supposed to meet at 2 pm.
- IIRC, the project deadline is next Friday.
- IIRC, she said she would call me later.
- IIRC, the store closes at 10 pm.
- IIRC, we need to submit the report by tomorrow.
- IIRC, the meeting location has changed to room 302.
- IIRC, there is a potluck lunch on Friday.
- IIRC, the company policy requires all employees to attend the training session.
- IIRC, the doctor's office closes at 5 pm.
- IIRC, we need to bring our own utensils to the picnic.