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IOSCO Statement on Non-GAAP Financial Measures

  • Securities - IOSCO Image

Sep 08, 2014

On September 8, the International Organization of Securities Commissions issued a proposed Statement on Non-GAAP Financial Measures, which sets out its expectations for issuers with respect to their presentation of financial measures other than those prescribed by generally accepted accounting principles.

Non-GAAP financial measures can be useful to issuers and investors because they can provide additional insight into an issuer’s financial performance, financial condition and/or cash flow. The use of non-GAAP financial measures also can provide issuers with flexibility in communicating useful, entity-specific information. This Statement is intended to assist issuers in providing clear and useful disclosure for investors and other users of non-GAAP financial measures, and to help reduce the risk that such measures are presented in a way that could be misleading. Comments are requested on or before December 5, 2014.

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