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Current Initiatives to Improve Disclosure

This document discusses current initiatives to enhance disclosure presentation in corporate governance, including the implementation of objectives and principles, IASC core standards, auditing standards, international disclosure standards for cross-border offers and initial listings, and the challenges with new economy stocks.

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Current Initiatives to Improve Disclosure

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  1. Current Initiatives to Improve Disclosure Presentation by Andrew Procter for OECD Second Asian Roundtable on Corporate Governance June 2, 2000 0P099

  2. Implementation of Objectives & Principles (1) • 3 Objectives & 30 Principles • Principles relating to Issuers (14 - 16 Disclosure, Accounting, Audit) 0P099

  3. Implementation of Objectives & Principles (2) • IOSCO self-assessment • Pilot peer review • Co-operation with IMF/World Bank FSAP • Work with FSF on “incentives” 0P099

  4. IASC Core Standards (1) • Recommended use, by multinational issuers, of 30 IASC standards • Supplemented by reconciliation, disclosure and interpretation 0P099

  5. IASC Core Standards (2) • IOSCO resolution promotes further development of internationally accepted accounting standards • Continued IOSCO - IASC work - future projects identified • IOSCO Member Survey end 2001 - on implementation of recommendation 0P099

  6. Auditing Standards • IOSCO comments on exposure drafts of IAPC of IFAC • An area of greater focus in 2000 - 2001 • Technical Committee to consider working party report 0P099

  7. International Disclosure StandardsFor Cross Border Offers and Initial Listings (IDS) • Issued in 1998 • IDS set standards for content of offer documents • Survey of Technical Committee Members • Serve as benchmark 0P099

  8. New Economy Stocks • IOSCO task force on “new economy stocks” • Valuation, pricing, listing, disclosure 0P099

  9. The End 0P099

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