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Thursday 26 May 2016

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Investors in Financial Reporting

The IASB Investors in Financial Reporting programme


Working with the investment community for greater transparency in global capital markets


Financial information is the lifeblood of global capital markets. Financial reporting standards that result in a faithful representation of a company’s performance and allow easier comparison among peers are essential to helping investors identify investment opportunities—while understanding the risks involved.

The International Accounting Standards Board’s mission is to develop such financial reporting requirements, known as IFRS Standards. Our Standards fulfil an important public interest by bringing transparency, accountability and efficiency to global capital markets.

Investors play a key role in this process.

A new phase in our interaction with the buy-side community


Investors rely on the financial information provided by companies. Consequently, the Board has always sought the views of both buy-side and sell-side investment professionals throughout the standard-setting process.

However, the Board believes that the interaction with the buy-side can, and should, be broadened. It can also be structured to become more effective. 

To do so, in December 2014 we established the Investors in Financial Reporting programme. The goal of the programme is to increase our dialogue with the buy-side community, to ensure that IFRS Standards continue to meet the information needs of investors globally.

Central to the programme is a Statement of Shared Beliefs, which describes steps that both the Board and these investors are committed to take, in order to foster greater participation in the reporting debate among the global investment community.

View the participants in this programme >>


What do participants in the programme say?

'We have long been supporters of countries and companies adopting IFRS to give us greater confidence in their financial reporting, and greater comparability between investment opportunities. Our participation in the Investors in Financial Reporting programme gives us the basis to take the next step and work more fully with the IASB in further improving standards for company reporting so that our understanding of their underlying business is enhanced.'

-Hugh Young, Head of Direct Investments
Aberdeen Asset Management

'We welcome the IASB's Statement of Shared Beliefs and look forward to supporting the development of this worthwhile initiative.'

-Andreas Utermann, Global CIO and Co-Head
Allianz Global Investors

'IFRS Standards are leading us towards a more transparent and balanced information world. The work already done is impressive. Nevertheless, this is only the beginning and we still have a long way to go. We are pleased to play our part in moving forward.'

-Barbara Cohen, Head of European Credit Research
BNP Paribas Asset Management

'With a long-term investment approach and a business-owner mindset, CDPQ has an acute interest in having financial statements that best represent the underlying economic value of companies. To this end, we are happy to share our perspective through the IASB’s investor programme.'

-Roland Lescure, Chief Investment Officer
Caisse de dépôt et placement du Québec (CDPQ)

'Improved engagement between standard setters and the users of accounts is very much in the best interests of our investors, which is why Fidelity Worldwide Investment is keen to support this new initiative.'

-Henk-Jan Rikkerink, Head of Equity Research and Marty Dropkin, Head of Credit Research
Fidelity Worldwide Investment

'We believe involving those who invest in companies, as well as those who manage them, is a step forward in developing more practical accounting standards. By working together we can develop standards that deliver both transparent corporate reports and sensible business outcomes.'

-Graham Kitchen, Head of Equities
Henderson Global Investors

'Access to high quality, transparent financial and non-financial information is central to Insight’s investment research process. Initiatives that seek to enhance the integrity of financial information are in our clients’ best interests and can help mitigate some investment risks. As a responsible, long-term investor we support the Statement of Shared Beliefs’ objectives to provide greater comparability, consistency and relevance of business reporting and we are pleased to participate in this programme.'

-David Averre, Head of Credit Analysis
Insight Investment

'Odey is supporting the Investors in Financial Reporting programme to ensure accounting standards develop in a way that helps all investors to improve their returns. Clear, representative and accurate company accounts are the bedrock of all good research.'

-Crispin Odey, Founding Partner
Odey Asset Management

'As a global investor and extensive user of financial statements, Ontario Teachers’ welcomes the opportunity to support IASB’s Investors in Financial Reporting programme to improve the quality and transparency of financial reporting.'

-Michael Wissell, Senior Vice-President, Public Equities
Ontario Teachers'

'As a responsible long-term investor, PGGM fully shares the beliefs and is therefore pleased to endorse the Statement. We look forward to start a formal dialogue with IASB on the further development of accounting standards.'

-Eloy Lindeijer, Chief Investment Management
PGGM Investments