Financial Reporting

Independence of FASB Threatened: CFA Institute Speaks Out Proposed amendments to the U. S. Financial Stability Improvement Act and the Investor Protection Act would compromise independent oversight of FASB.   Read the letter (PDF) from CFA Institute to U.S. Congressional leaders opposing these amendments.

 

One of our central missions is the improvement of corporate financial reporting and disclosure standards. The increased globalization of the capital markets emphasizes the need for consistent and high-quality information.   

 

In our effort to improve corporate financial reporting, we:

• Participate on regulatory committees and industry task forces on issues such as XBRL
• Provide investor education
• Present research reports, surveys, and guidelines

 

Our work on financial reporting is based on the Comprehensive Business Reporting Model, which provides a framework for developing financial reports and disclosures.  

 

Learn ... 

• What we're saying about the financial crisis and its ethical dimensions
• What else we're saying about fair value reporting (PDF)
• About our advocacy work on global financial reporting standards
• What we've been saying about XBRL

 

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Survey Results

• Members support benefits of direct cash flow reporting method (PDF)
• Results of the member poll on the IFRS Roadmap (PDF)

 

Articles

• "IFRS and 2009 Financial Statements," CFA Magazine
• "In the Balance," CFA Magazine
• "Reasons to Move to a Global IFRS," Financial Times
• "The Fairness Doctrine," CFA Digest
• "Fair Value Financial Reporting," CFA Magazine (PDF)

 

Comment Letters 

• Comment Letter to U.S. House on Importance of FASB Independence (PDF)

• Comment Letter to IASB on Preliminary Views on Financial Statement Presentation (PDF)
• Comments to U.S. Congress on Fair Value Accounting
• Joint Letter to U.S. Congress, Treasury, Federal Reserve, and SEC, Urging Continuation of Fair Value Accounting (PDF)
• Strengthening the European Contribution to the International Standard-Setting Process - Proposals for Public Consultation (PDF)

 

Centre Speaks on Accountancy in EU

• Address to U.K. Treasury Select Committee on accounting and the banking crisis (PDF)
• Evidence provided to Members of the European Parliament on accounting issues (PDF)
• Cover letter to U.K. Treasury Select Committee (PDF)