Investors and regulators are increasingly using the Integrated Framework model to inform their decision making because they enhance accountability and stewardship and thus creating value. Integrated reporting is beneficial to our society, environment, and markets. The PAAB as a regulatory body is responding to a growing demand for greater transparency regarding non-financial reporting coming from civil society, other regulatory bodies, socially responsible investors, international organizations and also from national legislations (such Statutory Instrument 134 of 2019). Businesses need to show their stakeholders by not just reporting on financial capital that they create value through their efforts to operate in a manner that promotes the environment and benefits people. Integrated reporting enhances accountability and stewardship and builds trust in the organization’s stakeholders and could provide better forward looking information on how a company creates or erodes enterprise value.
Following the acceptance of Zimbabwe as one of the Africa Integrated Reporting Committee’s initial member countries at the AIRC meeting of 15 February 2018, the Public Accountants and Auditors Board (PAAB) set out to heed the AIRC’s call for member countries to establish their own National Integrated Reporting Committees. The establishment of Zimbabwe Integrated Reporting Committee (ZIRC) was based on the Africa Integrated Reporting Committee’s principles of establishing a national committee. The ZIRC was officially launched on the 5th of April 2019 during the 6th Zimbabwe Accountants Conference. Membership of the ZIRC is currently drawn from the stakeholders highlighted in black. The Committee is working on co-opting stakeholders highlighted in red as part of the Committee.
