Business Reporting Leaders Forum
The purpose of the BRLF is to drive positive reform in Australian business reporting. It is a discussion forum on topical issues to provide education, ascertain points of view, make submissions on relevant matters and advocate for change in business reporting – to better inform both the capital markets and broader stakeholders on an organisation’s performance, position and prospects. The BRLF has a particular focus on integrated reporting, including integrated reporting in accordance with the International Integrated Reporting Council’s International Integrated Reporting Framework. The BRLF regularly interacts with organisations such as the International Integrated Reporting Council (now Value Reporting Foundation, VRF) and Australian Financial Reporting Council on global and local corporate reporting matters. It is not a subsidiary of the VRF but advocates the quality adoption of integrated reporting and its assurance in Australia as a fit-for-purpose form of corporate reporting in Australia. After KPMG hosted the BRLF for almost 10 years, the Deakin Integrated Reporting Centre took on responsibility for administering the BRLF in 2020. The BRLF is chaired by Mr John Stanhope AM.
The BRLF has been working with Australian stakeholders since June 2010 to discuss IIRC’s development of the global <IR> framework and progress in corporate reporting reform in Australia. BRLF participants’ comments and concerns have been fed back to the IIRC, and were considered in the development of the <IR> framework.
Since the IIRC framework was released in December 2013, the BRLF has been more focused on driving corporate reporting reform and change in Australia, which has included discussions with Ministers, Business Leaders and other influential groups with respect to specific issues potentially restricting reform and especially the introduction of <IR> (i.e. the impact on directors’ liability, assurance, simplification of certain disclosures currently required under the Corporations Act). The BRLF will continue to focus on promoting widespread adoption of <IR> and supporting initiatives to facilitate corporate reporting reform.
The BRLF will continue to hold regular general meetings to brief interested parties on progress to date and likely future actions.