Skip to main content

IFRS Foundation Trustees publish findings on independent perception research



The Trustees of the IFRS® Foundation, responsible for the governance and oversight of the International Accounting Standards Board (Board), today published the findings of independent research commissioned to better understand stakeholder attitudes towards the work of the IFRS Foundation and the Board.


The research found that the IFRS Foundation is perceived as being successful in achieving its public interest mission, and is highly rated for transparency, independence and professionalism. The research also identifies areas for further development, mainly around the complexity of its Standards, the timeliness of its standard-setting process and the need to respond quickly in a changing world.

The research was conducted between February and May 2017 by Ebiquity, an independent research agency. Ebiquity interviewed 50 senior stakeholders from around the world. That research was then supplemented with online surveys of members of the IFRS Foundation’s advisory bodies, including the IFRS Advisory Council and the Accounting Standards Advisory Forum, as well as a separate survey of the Board and senior staff.

As a follow up to the strategic review conducted in 2016, the commissioning of the research is part of a broader initiative led by the Trustees to develop a series of key performance indicators by which to report on the overall effectiveness of the IFRS Foundation.

The findings of the research are generally in line with feedback received through other channels, and the organisation has already introduced some changes in the areas identified as warranting improvements.

Michel Prada, Chairman of the IFRS Foundation Trustees, said:

These findings are very encouraging, particularly given the size of the organisation compared to our global remit, and will help the Trustees discharge our oversight responsibilities.

We will work with the Board and staff to ensure that our future plans and priorities are informed by this feedback. We are grateful for the many insights and thoughtful contributions provided by our stakeholders from around the world.


The full report can be accessed here.

Labels:

Comments

Post a Comment

Popular posts from this blog

Bond Listing

FMDQ OTC Securities Exchange provides an efficient platform for registration, listing, quotation and valuation of bonds. FMDQ through its trading and surveillance systems and and the publication of FMDQ Daily Quotations List has empowered the Nigerian sovereign bonds and other classes of bonds with price discovery, transparency and market integrity. Bonds listed and admitted on FMDQ are traded by its Dealing Members some of which act as primary dealers to the sovereign domestic bonds. FMDQ Dealing Members act as market makers to the Nigerian sovereign bonds and some other classes of bonds thereby providing trading liquidity to the Nigerian bond market. The OTC securities exchange is responsible for circa 100% of bonds traded in Nigeria. As part of its mandate to provide exceptional levels of information transparency, FMDQ provides continuous disclosure of relevant information on fixed income issues listed on its platform. This information includes amongst others – issue siz...
Post a Comment
Explore more »

Funds Listing

As a debt capital-focused securities exchange, FMDQ also provides a robust platform for the listing of Mutual and Exchange Traded Funds. Mutual Funds   are investment vehicles operated by money managers, which typically pools funds from investors for the purpose of investing the funds in securities such as stocks, bonds, and money market instruments. They are also classified according to the types of securities invested in. Fixed Income Mutual Funds, which are focused primarily on investments in government and corporate bonds; and Money Market Mutual Funds (or Money Market Funds) which are focused on investments in short-term debt securities such as treasury bills and commercial papers, are permitted for listing and trading on FMDQ, in line with the provisions of the FMDQ Bond Listing and Quotation Rules. Exchange Traded Funds (ETFs)   are marketable securities that track an index, a commodity, bond, or a basket of assets. Unlike mutual funds, ETFs are traded on an exc...
Post a Comment
Explore more »

IASB consults on the accounting for financial instruments with characteristics of equity

The International Accounting Standards Board (Board) today has published for public comment a  Discussion Paper  on how companies issuing financial instruments should classify them in their financial statements. IAS 32  Financial Instruments: Presentation  currently sets out how a company that issues financial instruments should distinguish financial liabilities from equity instruments. That distinction is important because the classification of the instruments affects how a company’s financial position and performance are depicted. IAS 32 works well for most financial instruments. However, continuing financial innovation means that some companies find it challenging to classify some complex financial instruments that combine some features of both debt—liabilities—and ordinary shares—equity instruments. Challenges in classifying these instruments can result in diverse accounting in practice, which in turn makes it difficult for investors to assess and...
Post a Comment
Explore more »