This study aims to examine the effect of corporate governance structure effectiveness on Integrated Reporting (IR) disclosure. Corporate governance structures in this study consist of board of directors and audit committee. The study also examined the effect of IR disclosure on cost of equity. Further, this study examines the effect of both board of directors and audit committee effectiveness on cost of equity through IR disclosure. Board of directors and audit committee effectiveness can be seen from the characteristics of independence, activity, size and competence. Hypothesis testing is carried out by using a structural equation modelling (SEM) of 373 observations (firm-year) with the sample taken from more than 20 countries where the firms listed on The International Integrated Reporting Council (IIRC) network database during the period 2015-2017. The results of this study evidence that IR disclosure has an effect on reducing cost of equity. However, the result for the influence both of the board of directors and audit committee effectiveness are still mixed. The findings indicate that the effectiveness of the board of directors and audit committee do not affect IR disclosure. And there is no significant influence in indirect relationship between board of directors and audit committee effectiveness, IR disclosure and cost of equity. Implication of this research is to encourage regulators to begin reviewing policies to start implementing IR in public companies, because based on the results of this study, IR disclosures can have an impact on reducing cost of equity.