The International Accounting Standards Board (the Board) today announced that BNP Paribas Investment Partners, Odey Asset Management and Sumitomo Mitsui Trust Bank are the newest members of its Investors in Financial Reporting programme. The programme was established in 2014 to increase the Board’s engagement with the investment community.

The new joiners bring the total number of investment organisations in the programme to 18. The other members of the programme are Aberdeen Asset Management, Allianz Global Investors, APG Asset Management, AustralianSuper, BlackRock, Caisse de dépôt et placement du Québec, Fidelity Worldwide Investment, Henderson Global Investors, Hermes Investment Management, Insight Investment, Lazard Asset Management, Nomura Asset Management, Ontario Teachers’ Pension Plan, PGGM Investments and UniSuper.

When setting IFRS Standards—required by nearly 120 countries— the Board consults extensively with investors, companies, regulators and other standard-setters. The Investors in Financial Reporting programme was developed to further increase the participation of investors, especially from the buy-side community, in the standard-setting process and to help them stay up to date on the latest developments.

Crispin Odey, Founding Partner, Odey Asset Management, said:

Odey is supporting the Investors in Financial Reporting programme to ensure accounting standards develop in a way that helps all investors to improve their returns. Clear, representative and accurate company accounts are the bedrock of all good research.

Barbara Cohen, Head of European Credit Research, BNP Paribas Asset Management, said:

IFRS Standards are leading us towards a more transparent and balanced information world. The work already done is impressive. Nevertheless, this is only the beginning and we still have a long way to go. We are pleased to play our part in moving forward.

Hans Hoogervorst, Chairman of the International Accounting Standards Board, commented:

Working closely with investors in setting IFRS Standards is important, as they are the primary beneficiaries of our work. Investor input is key to ensuring the Standards are of the highest possible quality so they can deliver transparency, accountability and efficiency to financial markets around the world.

The Investors in Financial Reporting programme is founded on an agreed Statement of Shared Beliefs which says that high quality, transparent reporting is fundamental for building trust in the capital markets and for making investment decisions. The Statement also sets out the commitment from the Board and the representatives from the global investment community to work collaboratively to develop high quality IFRS Standards.

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