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Information for Better Markets

Advancing thinking and debate

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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 paper that will examine how the costs and benefits of new accounting standards are currently assessed, to what extent this is done effectively and how impact assessments might be improved in the future.

For further information please contact Alison Dundjerovic.

Events 

PD Leake Lecture

The 2018 PD Leake will be held on Tuesday 30 October and will explore the use of textual analysis in corporate reporting. It will consider its potential to fundamentally change the way in which disclosures are used, giving the user the ability to dig beneath the surface of the text to measure the characteristics, quality and tone of the narratives. The lecture will be given by Professor Craig Lewis, Vanderbilt University and will take place at Chartered Accountant’s Hall in London. The lecture is free of charge but delegates must register to attend. To register for the event, please visit icaew.com/PDL2018.

IFBM Conference

The 2018 Information for Better Markets conference is entitled ‘Financial Scandals: past, present and future’ and will take place on Monday 17 and Tuesday 18 December. This conference will provide an opportunity to explore how we learn from financial scandals. We will consider what history tells us about the development of accounting in response to these events and where we are today – assessing the role of financial reporting regulation and corporate gatekeepers. In light of these findings we will turn to a current example and consider how reporting has been part of the response to public anger about tax avoidance.

The conference will take place at Chartered Accountant’s Hall in London. The event is free of charge but delegates must register to attend. To register for the conference please visit icaew.com/IFBM2018.

What we've done

Our most recent report is Growth, development and accounting: seeing the bigger picture.

Our most recent Information for Better Markets event was the 2017 IFBM conference that took place in December and asked ‘Corporate reporting: is it heading in the right direction?’. Recordings of the conference sessions will be available shortly.

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

2017 Information for Better Markets Conference

What's new?

IFBM conference 2017

Video recordings, blog posts and academic papers from the 2017 Information for Better Markets conference.

Advancing private company accounting research

ICAEW’s Information For Better Markets (IFBM) thought leadership programme will take a leading role in advancing private company accounting research. Our intention is to raise the profile of private company research and challenge the predominance of research into the minority of companies globally that are publicly listed.

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’.

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