Deloitte comment letter on IOSCO's proposed statement on non-GAAP financial measures

Published on: Dec 06, 2014

Deloitte responded to the International Organization of Securities Commissions' Consultation Proposed Statement on Non-GAAP Financial Measures.

We support addressing the issue of non-GAAP financial measures at a global level as it is pervasive. In our view, non-GAAP financial measures have a role in corporate reporting as they can improve the communication between an issuer and its stakeholders, provided that they are reported in a consistent and unbiased manner. However, we note that the regulatory approaches of various IOSCO members may not be easy to reconcile, given their differences of views about the role of non-GAAP financial measures in financial reporting. We believe that it would be in the best interests of global securities markets if the statement was applied consistently in all IOSCO jurisdictions and not overlaid with local guidance.


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