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Explaining the background to the perception audit, EFRAG Board President Jean-Paul Gauzès notes that:
“As a public interest organisation it is essential to gauge the awareness of our work among our stakeholders throughout the financial reporting community. The perception audit was designed to provide valuable insight into how our work is perceived and the findings will aid us in defining the right direction for the future.”
EFRAG commissioned the perception audit to assess levels of awareness of EFRAG and its work in the financial reporting community and to provide a snapshot of the organisation’s progress in delivering on its European public interest mission.
The perception audit took place in the final quarter of 2017 and was conducted by FleishmanHillard in cooperation with ComRes, an independent market research agency. It reached out to national and international financial reporting standard setters, private sector actors from the banking, asset management, pension, and insurance industries, accountancy firms and other financial actors including financial analysts.
FleishmanHillard’s report provides a current perspective into the organisation’s strengths and areas for improvement. Overall, the feedback suggests that those who interact closely with EFRAG see the organisation as being effective in its three core activities of upstream influence, improving IFRS and providing endorsement advice to the EC. Overall, stakeholders confirm the high quality of EFRAG’s work while suggesting that that the organisation should seek to boost its visibility and join the wider debate on corporate reporting.