IOSCO urges disclosure of accounting framework

The International Organization of Securities Commissions (IOSCO) has published a statement urging publicly-traded companies to provide investors with clear and accurate information on the accounting standards used to prepare their accounts. In particular, IOSCO is concerned that, with the convergence of global accounting standards, investors may assume that all company accounts are generally comparable, even when they are prepared in accordance with quite different GAAP. This commonly occurs where national standards assert that they are based on but do not fully implement International Financial Reporting Standards (IFRS). (View the Media Release and IOSCO Statement.)