Statement before the SEC Financial Disclosure and Auditor Oversight Roundtable
- Topics:
- Investor Relations
- Tags:
- Disclosure,
- Finance,
- Financial,
- Financial Accounting,
- Investor,
- National Investor Relations Institute,
- SEC
FREE Registration is required
Overview: The failure of Enron, along with other corporate uncertainties, is presenting corporations, the accounting and legal professions, financial analysts and the securities industry an unprecedented opportunity to restore investor and public confidence in what is still the world’s greatest capital market. For too long, some corporations, auditors and corporate counsel have approached their respective roles when it comes to accountability and disclosure by doing little more than what is legally mandated as opposed to doing what is right for investors. One of the primary jobs in investor relations is to do the things that minimize risk for investors. And, one can do that by providing all investors full and fair access to corporate information and by helping shareholders better understand the companies in which they are invested. Management Responsibility for Financial Reporting. section of the annual report (Form 10-K) should cover all written disclosures, whether it should be required instead of optional as it currently is and whether to require management to formally affirm quarterly instead of annually that its disclosure is complete and current. The bias in sell-side research has been increasing for over a decade but only became a cover story when the market started its decline almost two years ago. Institutional investors recognized this problem early on and began beefing up their own research capability.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: PDF | Size: 59KB | Date: Jan 2003 | Pages: 5
