Views on the integrity of global capital markets
Currently there are initiatives underway to create an overarching framework to improve financial statement disclosures. The “disclosure framework” is intended to help enable companies communicate more effectively with investors, eliminate redundancy, and move away from what some assert has become a compliance exercise. Read more
Leave a CommentThe inclusion of environmental, social, and governance (ESG) factors in the investment process is gaining more and more traction in global markets. Read more
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As the economic crisis play out in Europe, an important question for investors is how sovereign debt exposure may have affected the recently reported performance of systemically important banks.
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Vincent Papa, CFA, director of financial reporting policy at CFA Institute, discusses the need for better disclosures to improve transparency for investors, based on a recent CFA Institute study. Read more
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Will the alleged insider trading scandal involving ex-KPMG partner Scott London compel the Public Company Accounting Oversight Board to finally require disclosure of the lead partner on public company audits? Read more
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FASB recently initiated a project to create separate private company accounting standards. Meanwhile the PCC — formed to advise FASB on private company standards — is charged with identifying areas within existing GAAP to adjust reporting requirements for private companies. Read more
7 Comments It remains challenging for investors to fully anticipate the consequences of forthcoming bank regulatory requirements, especially across interrelated strands of regulation. A case in point is a Basel III requirement eliminating filters relating to financial reporting information. Read more
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The underperformance of major global banking stocks since 2007 is, in part, indicative of the belated recognition by investors that banks had for too long been too highly leveraged. Adequate loss-absorbing equity capital is necessary to ensure the solvency and financial stability of banking institutions. Read more
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The PCAOB recently updated its 2009 and 2010 inspection reports for PricewaterhouseCoopers (PwC) covering audit years 2008 and 2009. Originally, the PCAOB identified quality control deficiencies associated with those audit years and gave PwC 12 months from the date of each report to implement corrective action. Read more
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Fraudulent financial reporting is such a major concern in Asia that U.S. regulators are now getting involved — a reminder to investors of the potential perils posed by companies that are listed in foreign countries, whether through a reverse merger or IPO. Read more
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