06 July 2009

International CRUF Town Hall Meeting - The importance of good financial reporting

The IASB is committed to providing high quality accounting standards but  cannot achieve that goal without the input of investors and corporate management. The CRUF has offered the Board tremendous insight into the practical needs of today.

The Corporate Reporting Users’ Forum (CRUF) held its 1^st Town Hall Meeting in Frankfurt. There were a number of interesting contributions from the speakers:

• the importance of investment professionals and corporates coming together to help shape reporting standards 
• the importance of investor input into the standard setting process and thanked CRUF for its tremendous contribution to the reporting debate.
• the need for companies to improve their communication of performance through greater voluntary disclosures has never been greater. 
• The importance of convergence of the US-American US GAAP standards and IFRS 
• The corporate representatives in the room argued in favour of a reduction in the “check list” of disclosures that they are obliged to provide