Discussion re: p1 article

“Integrated reporting will not replace other forms of reporting but the vision is that preparers will pull together relevant information already produced to explain the key drivers of their business’s value. Information will only be included in the report where it is material to the stakeholder’s assessment of the business. There were concerns that the term ‘materiality’ had a certain legal connotation, with the result that some entities may feel that they should include regulatory information in the integrated report. However, the IIRC concluded that the term should continue to be used in this context as it is well understood”

– https://www.accaglobal.com/gb/en/student/exam-support-resources/professional-exams-study-resources/p2/technical-articles/iirc-framework.html

Is it just me or does the middle to last section seem to be saying:Entity A:” i’m not too sure about this materiality part here.” Entity B: “i think we should throw some regulatory jargons in there just to be safe.” IIRC member a:” sir i think we should clear their uncertainty.” IIRC chair:” It’s fine isn’t it? They know what we mean by materiality.”