PAFA as part of its 2016-2020 strategy aims to accelerate implementation of Integrated Reporting (IR) in Africa by ensuring that at least 3 more countries should adopt and implement IR by 2020. To achieve this objective therefore PAFA, working with World Bank decided to establish and operate the African Integrated Reporting Committee (AIRC) which will oversee implementation of this reform in Africa. The purpose is to serve as an influential Committee that will promote and support the adoption of IR in Africa, It will also provide strategic thinking on Integrated Reporting. Thus, in order to achieve this objective AIRC shall be comprised of influential policy-makers and other notable Countries that have Stock Exchange in Africa.

It is pertinent to note that the membership of AIRC was targeted at countries that are likely to implement the reforms in short to medium terms. In this regard, initial 7-member countries were selected based on maturity of their (a) accountancy profession, (b) financial reporting in the country and (c) capital market.

• Botswana
• Kenya
• Mauritius
• Morocco
• Nigeria
• South Africa
• Zimbabwe

The PAFA board and AIRC will invite other national, regional and global institutions championing IR to serve as observer or partner with AIRC from time to time. Institutions such as International Integrated Reporting Council, the African Development Bank, Integrated Reporting Committee of South Africa, OHADA and IFAC were on their radar.

The Institute of Chartered Accountants of Nigeria at its Governing Council Meeting of 26 February 2018 constituted Nigeria Integrated Reporting Committee (NIRC) to kick start Integrated Reporting activities in Nigeria. It is pertinent to note that the Council decision is in response to the global development in Integrated Reporting and Pan African Federation of Accountants (PAFA) recognition of the importance of Integrated Reporting as the future of Corporate reporting and in line with International Federation of Accounting's (IFAC) consideration of Integrated Reporting as the way to achieve a more coherent corporate reporting system that aims at fulfilling the need for a single report that provides a fuller picture of organization's ability to create value over time. The Committee was headed by Dr Okwuosa Innocent FCA, who is currently the pioneer Chairperson of NIRC.