WICI, the world’s business reporting network, is a private/public sector collaboration aimed at improving capital allocation through better corporate reporting information.
To achieve this vision we have three major goals:
- The first is to develop a voluntary global framework for measuring and reporting corporate performance to shareholders and other stakeholders. Throughout the world, different terms such as opportunities, risks, strategies, plans, intellectual assets/capital, intangibles or value drivers are often used to describe some of the concepts within corporate performance.
- The second is to develop guidelines for measuring and reporting on industry-specific key performance indicators.
- The third is to facilitate the development of XBRL taxonomies for this content.
We believe that such better information will improve capital allocation decisions both within companies and between investors and companies. The result will be more wealth creation for a better world economy. |
Who We Are
WICI was formed in November 2007 and participants include organizations representing companies, analysts and investors, the accounting profession and academia. The Promoting Parties of WICI are:
- Enhanced Business Reporting Consortium, which was founded by American Institute of Certified Public Accountants, Grant Thornton LLP, Microsoft Corporation and PricewaterhouseCoopers
- European Federation of Financial Analysts Societies
- Japanese Ministry of Economy, Trade and Industry
- Organization for Economic Cooperation and Development
- Society for Knowledge Economics
- University of Ferrara
- Waseda University
The European Commission participates in WICI as an Observer.
WICI-Japan
On October 30, 2008, WICI-Japan was formed to lead Japan’s activities in global business reporting. For more information, please go to http://www.worldici.com/news.php.
For more information on the background of WICI see About Us.
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Global framework and taxonomy collaborations
On October 16, 2008, WICI published a comprehensive information framework and XBRL taxonomy to help companies improve communications with investors and other stakeholders about business strategy and performance. WICI requests public comments from the business reporting community on the framework and taxonomy.
WICI acknowledges and thanks PricewaterhouseCoopers for its kind permission to use and base its materials on the PricewaterhouseCoopers’ Corporate Reporting materials and research.
WICI also acknowledges and thanks DVFA – Society of Investment Professionals in Germany for its kind permission to use and base its materials on DVFA – Society of Investment Professionals in Germany materials and research.
KPI collaborations
The Enhanced Business Reporting Consortium and Gartner, Inc. are collaborating to engage capital market participants in a study to test and validate research on a set of key performance indicators that are predictive of financial results. Visit Industry KPI Projects for more information. |
