CIMA General News

CIMA supports IFAC report on the financial reporting supply chain

CIMA (Chartered Institute of Management Accountants) will contribute to the debate on ‘Financial Reporting Supply Chain Survey: Current Perspectives and Directions’ – a report commissioned by the International Federation of Accountants (IFAC).

The report, which launched today (7 March GMT), was overseen by Norman Lyle, a former CIMA President and retired group finance director of Jardine Matheson Holdings Ltd in Hong Kong. In recent years, there have been significant efforts to change and improve financial reporting and the IFAC survey was set up to explore the result of these efforts by conducting interviews on a global scale with key stakeholder groups within the financial reporting supply chain.

Central themes explored within the report include whether or not the financial reporting process has improved, if financial reports have become more or less relevant, and what the next steps for corporate reporting around the world are.

CIMA welcomes the report as a key contribution to the debate on which direction the future of financial reporting should take. Norman Lyle recently presented his research to a roundtable event hosted by CIMA in London. The Institute will be releasing an executive summary that will draw upon the various findings of the IFAC survey, featuring contributions by leading figures in the finance reporting supply chain who attended the CIMA debate.