IPR head of policy Nigel O'Connor said the initiative was launched in response to DTI plans for an Operating and Financial Review, to take account of wider business links including social, ethical and reputational factors.
The body is collating responses from FTSE 350 companies contacted by president Jon Aarons in order to select the companies on which the three-month trial will be based.
The IPR will then work alongside the in-house teams of the chosen companies in developing reporting methods.
O'Connor refused to reveal details of the criteria used to determine the companies taking part, but the trial will commence in March with the results announced in June.
He said the trial will assist the companies involved in preparing for their obligations to report intangible assets.
The project will pilot Business Excellence's ValueMapping model in assessing the value of reputation factors.
- Leader, p8.