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Financial Reporting - Is it Fit-for-Purpose?

Call For Papers - Is Reporting “Fit-for-Purpose”? The Case for Financial Institutions



The International Centre for Financial Regulation (ICFR) and its working group on financial reporting are working together to deliver a conference entitled 'Is Reporting “Fit-for-Purpose”? The Case for Financial Institutions'. The event will take place on 9 November 2011 in London.


As authorities around the world impose stricter monitoring and supervision rules on financial institutions, greater attention is being paid to the question of whether or not regulators and investors are adequately provided with the tools that they need to assess the performance of financial institutions. Investors, regulators and other stakeholders rely on various types of financial reporting to make their assessments. There is a debate over whether the various types of reporting requirements should be harmonized in order to allow financial institutions to effectively present their data to be accessible and meaningful to all users. It is argued that standardisation of reporting could make it easier (i) to compare financial institutions and (ii) to tell the difference in risk appetite among financial institutions in turn allows investors to be more discerning about the risk/return trade-off. The purpose of this conference is to bring together regulators, industry practitioners, investors and accountants to debate the information needs of investors and regulators of the financial institutions. 

Invitation to Submit Papers   

We invite academics, researchers and industry thought leaders to submit papers which are relevant to the purpose and main themes of the conference ‘Is Reporting “Fit-for-Purpose”? The Case for Financial Institutions’. These may include, but need not be limited to, the following topic areas:

  • Should financial reporting to prudential supervisors and securities market regulators be harmonised? / If there are two dimensions to financial reporting, to what extent should they be the same, and where (and why) should they diverge?
  • What are the objectives of financial reporting? (General-purpose vs. special-purpose financial reporting)
  • How should financial reporting standard-setters and prudential supervisors work together so that IFRS and prudential reporting requirements are as best aligned as possible?
  • Given the changes being made in all areas of financial reporting (not only IFRS, but market regulation, prudential supervision, auditing, etc), to what extent will financial reporting be “fit for purpose” in the future?
  • Should financial statements of financial institutions be any different from those of other types of companies? 


Completed papers or partially complete drafts should be emailed to Sandra Glavan at  [email protected] by 1 August 2011.  Please include an abstract (approx. 300 words). 

Selected Papers    

We will email those participants selected by 15 September 2011.  Please note all papers presented at the conference, including presentation slides, will be published on our website as part of conference proceedings.  By submitting a paper and presentation slides for this conference you are agreeing to this use.

Working Group  

Charles Taylor (Chief Operating Officer, ICFR)
John Hitchins (Partner, Banking and Capital Markets, PWC)
Mary Tokar (Seconded Partner, International Standards Group, KPMG IFRG Limited)
Patricia Jackson (Head of Prudential advisory practice EMEIA, Ernst & Young LLP)
Paul Klumpes (Professor of Finance, EDHEC Business School)
Richard Reid (Director of Research, ICFR)
Ruth Picker (Global Leader, Global IFRS Services, Ernst & Young Global Limited)
Veronica Poole (Partner, Global IFRS Leader, Deloitte LLP)

Recent Research   

Please  click here to view our most recent commissioned research that falls under the board theme of this conference. 

Travel and Accommodation for Selected Speakers      

Please note where appropriate ICFR will cover reasonable economy travel return fare and provide a fixed amount for accommodation.  ICFR will determine this on a case by case basis. 

Contact Details    

Sandra Glavan
Economic Research Analyst
Direct:   +44 (0) 20 7374 5562
Email: [email protected]