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CFA Institute survey reveals financial reporting and derivatives concerns

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10 Mar 2011

The CFA Institute, a global association for investment professionals, has released a report entitled 'Financial Market Integrity Outlook: 2011', summarising the outcomes of a survey created to seek input from CFA Institute members on the outlook for ethical markets in 2011.

The survey, sent to all CFA Institute members (over 98,000 members), was distributed by email during January 2011. 5,735 members participated in the survey, for a response rate of 6%, and a margin of error of ±1%.

Highlights of the survey include:

  • market fraud, financial reporting (honesty and integrity of financial reporting generally), and derivatives (disclosure and use of financial derivatives by financial firms) were rated at the most serious ethical issues facing global markets – participants from 8 of the 16 priority markets in the survey said derivatives is the most serious issue facing global markets in the coming year
  • improved enforcement of existing laws & regulation (31%) and improved regulation & oversight of global systemic risk (23%) are the most needed regulatory/industry actions needed in the coming year to help improve market trust and integrity – however, two countries (Brazil and China) both had the highest proportion of members selecting improved transparency of financial reporting and other corporate disclosures as the most needed reform
  • over half of respondents think the impact of the credit crisis will last 5 years or less, with approximately one-third believing it will last more than 5 years.

Click for CFA Institute press release (link to CFAI website). Our credit crunch page is Here

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