Integrated Reporting Framework , was developed in 2010 by the Integrated International Reporting Council (IIRC) with the objective of creating a globally accepted framework for a process that results in communications by an organisation about value creation over time In June 2021, the IIRC merged with the Sustainability Accounting Standards Board (SASB) to form the Value Reporting Foundation (VRF). The objective of the merger was to provide investors and corporates with a comprehensive corporate reporting framework across the full range of enterprise value drivers and standards to drive global sustainability performance (Deloitte). With specific reference to Barbados or another Caribbean territory, write an essay discussing why an Integrated Reporting Framework should or should not be implemented as the preferred method of reporting for corporate entities.

You are required to discuss the following in your analysis:

- Technical readiness of accountants and auditors

- Prospective challenges with its implementation for local accountants/auditors

- Benefits/drawbacks of the framework

- Justify your position with reference to the implementation of the framework