07 November 2006

IMA calls for financial reports to focus on shareholders

IMA has called for stewardship to be a separate objective for financial reports in its response to the IASB discussion paper on the conceptual framework for financial reporting. This would ensure that shareholders receive the historic and governance information they need to exercise their rights as shareholders effectively.

IMA is also concerned about proposals to focus financial reports on a wide range of users and not just shareholders. Other users, such as creditors, employees, bankers, customers and suppliers, are already protected by contractual and other rights, and any information deemed to satisfy the needs of shareholders should be more than adequate for these other users.

Full response

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