Michael Muyot, President & Founder of CRD Analytics, posted on Justmeans yesterday about the recent announcement of a new, single global authority on integrated reporting. The International Integrated Reporting Committee (IIRC) was formed to create a universally recognized reporting framework for integrated reporting.

This past December The Prince of Wales convened a high level meeting of investors, accounting bodies, companies, decision-makers in standard setting and UN representatives. An agreement was made that the Global Reporting Initiative and the Prince’s Accounting for Sustainability (A4S) should work together with other organizations to establish an international body that oversees the creation of a universally recognized integrated reporting framework that connects financial and sustainability reporting.

So why is this important? The IIRC brings together the who’s who of the finance and sustainability sectors, and many will recognize them as the change agents of our time. FASB, IASB, PwC, E&Y, KPMG and Deloitte are on board to name a few.

Southwest Airlines, United Technologies, Novo Nordisk, Philips and American Electric Power are already producing integrated reports. How long before their peers will follow suit? Read Michael’s complete post here.