About Us

The WICI, the world’s business reporting network, was formed on November 7, 2007. The Promoting Parties of WICI are Enhanced Business Reporting Consortium, European Federation of Financial Analyst Societies, Japan Ministry of Economy, Trade and Industry, Organization for Economic Development and Cooperation, the Society for Knowledge Economics, University of Ferrara and Waseda University. The European Commission participates in the WICI as an Observer.

WICI is a private/public sector partnership for improving the reporting of intellectual assets and capital and key performance indicators that are of interest to shareholders and other stakeholders. Since wealth creation depends on the most efficient allocation of capital on a risk adjusted basis, the WICI collaboration is aimed at improving capital allocation through better information. Metrics which supplement traditional accounting measures 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.

On October 16, 2008 WICI released its first version of a comprehensive information framework and XBRL taxonomy to help companies better communicate with their investors and other stakeholders about business strategy and performance. The work on the reporting framework and taxonomy was carried out through the WICI Framework Task Force.

The work in industry-specific key performance indicators is carried out by groups organized as Industry KPI Projects. In both cases, active engagement is solicited from companies, investors, analysts, accountants, stock exchanges, regulators, standard setters, international collaborative organizations, and NGOs.

WICI aims to ensure wide dissemination and active use of the voluntary WICI framework and the industry-specific key performance indicators on a global basis. This requires an active collaboration of the users of capital (companies), the suppliers of capital (investors and banks) and other relevant stakeholders.