Financial Reporting Supply Chain: Theme 1

High-quality financial reporting is at the heart of strong capital markets and sustainable economic growth. All those involved in the financial reporting supply chain play a critical role in the quality and reliability of financial information.

In response to the report, Financial Reporting Supply Chain: Current Perspectives and Directions (March 2008), IFAC established a project group to study progress in the areas of governance, financial reporting, and auditing aimed at meeting investor needs. Its first output, Developments in the Financial Reporting Supply Chain-Results from a Global Study among IFAC Member Bodies was issued in February 2009. This study indicated that, although some progress had been made, several significant issues remain unresolved.

In the final phase of this project, the project group interviewed 25 key business leaders from around the globe on what should be done to improve corporate governance, business reporting, and auditing in the aftermath of the financial crisis.

These are the first four interviews, and the summary article.