CFA Institute advocates 'IFRS convergence'

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19 Sep 2008

CFA Institute, the global association of investment professionals, has identified six initiatives from the final report of the SEC's Advisory Committee on Improvements to Financial Reporting (CIFiR) that it will focus on to further advance the investor perspective.

One of them is IFRS convergence. Click for the CFA Institute Press Release (PDF 42k).

The six initiatives on which the CFA Institute will focus are:

  1. Joint Financial Statement Presentation Project: "This is a very important project for investors because it will improve their ability to understand the economic activities reported in the financial statements by separating operating, financing, and investing results, which is consistent with the proposals outlined in our Comprehensive Business Reporting Model. We support the Committee's intention to, as the report states, 'delineate the nature of changes in income and allow investors to assess the degree to which management controls each one'."
  2. IFRS Convergence: "CFA Institute continues to advocate for the global use of high quality standards. It recognizes that the pace of convergence may have a direct impact on implementation and could lend to the development of a date-certain roadmap versus the current plan to allow the choice of either standard."
  3. XBRL
  4. Key Performance Indicators (KPIs)
  5. Quarterly Press Releases
  6. Websites and Summaries

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