Global framework for communicating non-financial information

A new framework has been developed by the World Intellectual Capital Initiative (WICI) to improve communications between a company and its stakeholders about the nonfinancial factors contributing to its market value. WICI is a global business reporting network of public-sector and private-sector interests, of which the American Institute of Certified Public Accountants (AICPA) is a member through the Enhanced Business Reporting Consortium. WICI has also developed an eXtensible Business Reporting Language (XBRL) taxonomy to support the framework, which considers business strategy, personnel, research and development, customer base and other nontangible factors as part of business reporting. Read the AICPA's news release and view the WICI presentation.