The International Accounting Standards Board (IASB) today announced the launch of its Investors in Financial Reporting programme. Created with the support of some of the world’s leading asset managers and owners, the programme is designed to foster greater investor participation in the development of International Financial Reporting Standards (IFRS).
IFRS is required for use by more than 100 countries. The IASB, as the public interest body responsible for IFRS, consults extensively with investors and other stakeholders around the world to ensure that its Standards provide high quality financial information. The Investors in Financial Reporting programme has been developed to further extend investor participation by specifically encouraging greater involvement from the buy-side community.
Central to the Investors in Financial Reporting programme is a mutually agreed Statement of Shared Beliefs, with which:
- the IASB and the investment community highlight the importance of high quality, transparent reporting for building trust in the capital markets and for making investment decisions;
- the IASB publicly reaffirms its commitment to continue to seek and consider investor views in the development of new accounting standards; and
- leading representatives from the global investment community make visible their commitment that as responsible investors they will contribute to the development of high quality financial reporting standards. That commitment involves working with the IASB to ensure that the investor perspective is articulated clearly and is considered in the standard-setting process.
Participants in the launch phase of this important initiative are Allianz Global Investors, APG Asset Management, AustralianSuper, BlackRock, Fidelity Worldwide Investment, Henderson Global Investors, Hermes Investment Management, Nomura Asset Management, PGGM Investments and UniSuper.
Further information about the programme can be accessed via the Investors in Financial Reporting section of the IFRS website.
Commenting on the programme, Hans Hoogervorst, Chairman of the IASB said:
“The Investors in Financial Reporting programme is designed to intensify the involvement of investors in the development of high quality financial reporting standards.
“I am grateful to the investor organisations that have helped shape this launch phase of the programme and I encourage others within the investment community to join the financial reporting debate.”
Barbara Davidson, Principal, Investor Liaison
Telephone: +44 (0)20 7246 6907
Mark Byatt, Director of Communications and External Affairs
Telephone: +44 (0)20 7246 6472