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High-quality business reporting is at the heart of strong and sustainable organizations, financial markets, and economies. It allows organizations to present a cohesive explanation of their business and helps them engage with internal and external stakeholders, including customers, employees, shareholders, creditors, and regulators, while also promoting better internal decision-making. Professional accountants are integral to all phases of organizational reporting. Read More
Global research study among IFAC member bodies indicating that in many countries and jurisdictions progress has been made in numerous areas of governance, financial reporting, and auditing. However, the study also highlights a number of persistent and important issues that still need satisfactory solutions.
This article focuses on electronic tagging of data, XBRL, and related issues.
Addresses complexity and improving the quality of financial reporting.
Final Report of the Advisory Committee on Improvements to Financial Reporting to the US SEC
August 1, 2008 - US Securities and Exchange Committee
Provides a number of proposals to improve financial reporting.
Highlights improvements that have been made to the financial reporting supply chain in recent years and identifies areas for further improving the usefulness of financial reports.
Encourages organizations to build business reports that effectively communicate with their capital markets, including a clear articulation of their business strategies, key performance indicators and risks, and prospects based on economic, social, and governance principles.
Published by the CFA’s Centre for Financial Market Integrity, this proposes 12 principles to ensure financial statements are relevant, clear, accurate, understandable, and comprehensive.
July 17, 2014 - Association of Chartered Certified Accountants
June 30, 2014 - In The Black
June 27, 2014 - The Accountant
June 27, 2014 - International Integrated Reporting Council
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