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Financial Reporting Disclosures: Investor Perspectives on Transparency, Trust, and Volume

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Abstract

Several initiatives are under way to reform financial reporting disclosures. CFA Institute believes that because investors are the main consumers of financial statements, their perspectives on the effectiveness of current disclosures and how disclosure reform can best be effected are essential. Accordingly, we have developed this report to provide the investor viewpoint.

About the Author(s)

Mohini Singh
Mohini Singh ACA

Mohini Singh is director, financial reporting policy at CFA Institute. She represents membership interests regarding financial reporting and disclosure proposals issued by the FASB, the IASB, and others. Singh holds the Associate Chartered Accountant (ACA) designation.

Sandy Peters
Sandra J. Peters CPA, CFA

Sandra J. Peters, CFA, is head of financial reporting policy and serves as spokesperson for CFA Institute to key financial reporting standard setters including the IASB, FASB, and the US Securities and Exchange Commission. She holds the Certified Public Accountant (CPA) designation.

Ms. Peters holds a BSBA in accounting from the University of Nebraska and an MBA in finance from Indiana University. She was awarded the CFA designation in 1998. Ms. Peters leads the Financial Reporting Policy team responsible for tracking all financial reporting issues, including coordinating the efforts of the Corporate Disclosure Policy Council, a key committee of CFA Institute volunteers that reviews and comments on financial reporting policy initiatives worldwide. She serves as spokesperson for CFA Institute to key financial reporting standard setters including the IASB, FASB, and the U.S. Securities and Exchange Commission, and conducts outreach to other professional organizations and the media to discuss and promote financial reporting policies.

Ms. Peters has an extensive and well-balanced background as a user advocate, preparer, and auditor. Most recently, Ms. Peters served as vice president and corporate controller at MetLife Inc., where she managed a staff of 60 individuals and was responsible for SEC Reporting, Technical Accounting, SOX Controls, and HR Controllers.

Prior to joining MetLife, she was a partner at KPMG LLP providing audit services primarily for insurance and financial services companies with an emphasis on clients in the financial guarantee, reinsurance, and property and casualty sectors of the insurance industry. While at KPMG she spent three years in London as a member of the U.S. Capital Market Group, where she assisted several European-based multinational clients with U.S. GAAP conversion projects, the SEC registration process, and technical assistance on U.S. GAAP accounting issues and SEC disclosure matters.

Ms. Peters is a CPA licensed in New York, Texas, and Nebraska and a member of the American Institute of Certified Public Accountants (AICPA) and the New York Society of Securities Analysts (NYSSA). She is also member of the AICPA's Insurance Expert Panel.