ICAEW.com works better with JavaScript enabled.

Information for Better Markets

Advancing thinking and debate

What information should companies disclose? How should they measure their profits and their capital? How should their reporting be regulated? As the laws, regulations and standards governing financial reporting become ever more complex, the ICAEW Financial Reporting Faculty aims to helps members keep up to date and to understand the implications of new requirements. The faculty also seeks to inform and influence regulators and standard-setters on financial reporting questions. The faculty’s work on these public policy issues is informed by its Information for Better Markets thought leadership programme.

What it's all about

Our Information for Better Markets work subjects key issues in financial reporting to careful and impartial analysis. Better understanding of these issues will help achieve what the preparers and users of financial reporting need – practical solutions to complex problems. In pursuit of this objective, the Information for Better Markets initiative tackles three broad themes in financial reporting:

  • disclosure;
  • measurement; and
  • regulation.

We write and publish reports and commission research by leading academics from around the world.

We host two annual events, the P. D. Leake Lecture and the Information for Better Markets Conference at which we present the outcome of this research and any reports written by the ICAEW. Papers based on these events are published in the annual International Accounting Policy Forum special issue of Accounting and Business Research, a leading academic journal. Both the research and the events at which it is presented are financed by ICAEW’s charitable trusts.

What we're thinking about

Forthcoming papers

We are currently working on a new series of Public Policy Papers. The reports in this series are intended to contribute to a better understanding of the role of accounting in society, so that policy making is more soundly based. They are aimed at all who have an interest in public policy debates on whether and how financial reporting should be regulated.

The first publication in the series is SME Accounting Requirements: Basing Policy on Evidence and the second is Long-Term Investment and Accounting: Overcoming Short-Term Bias. The most recent publication in the series is Incentives and Institutions in Accounting: Thinking beyond Standards.

The final report in the series will be ‘Growth, Development and Accounting: Seeing the Bigger Picture’.

For further information please contact Alison Dundjerovic.


The 2017 Information for Better Markets conference will ask ‘Corporate reporting: is it heading in the right direction?’. The conference will take place on Monday 18 and Tuesday 19 December at Chartered Accountants’ Hall in London. The event is free of charge but delegates must register to attend. For more information, please visit our events page.  

On the 15 September 2017, ICAEW held an academic roundtable at Chartered Accountants’ Hall as a follow-up event to the 2016 IFBM Conference on Private company financial reporting. The purpose of the roundtable, which was attended by practitioners, standard-setters and representatives of the academic community, was to identify gaps in private company research and design possible questions for future research. For further information about the roundtable, its purpose and its output, please read our blog.  
What we've done

Our most recent thought leadership report is What’s next for corporate reporting: time to decide?

Our most recent Information for Better Markets event was the PD Leake lecture on ‘Evidence-based policy making: challenges and opportunities for accounting and financial markets research’ in October 2017. The lecture was given by Professor Christian Leuz of Chicago Booth. 

All our reports in the Information for Better Markets series and webcasts of the most recent lectures and conferences are available online:

What's new?

Evidence-based policy making

The 2017 PD Leake lecture was given by Professor Christian Leuz, Chicago Booth Business School. Melanie McLaren of the Financial Reporting Council gave a practitioner response.

What's next for corporate reporting: time to decide?

What does the future of corporate reporting look like, what are the opportunities and challenges and where are the barriers to change? This report captures the views of key stakeholders on the topic, puts forward principal policy options and invites further debate.

IFBM Conference 2016 webcasts

Access webcasts of presentations from the Information for Better Markets Conference, December 2016, on the theme of ‘Private company financial reporting’.

Long-Term Investment and Accounting

This report looks at the evidence on whether financial reporting encourages short-termism and asks whether it would be possible for financial reporting to provide better information on long-term performance.

IFBM Conference 2015 webcasts

Access webcasts of presentations from the Information for Better Markets Conference, December 2015, on the theme of ‘Accounting for M&A: strategy, management and financial reporting’.

IFRS: Ten years later

The 2015 PD Leake lecture was given by Professor Ray Ball, Chicago Booth Business School. Mary Tokar, member of the IASB, gave a practitioner response.