Addressing Financial Reporting Complexity: Investor Perspectives

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Codes, Standards and Position Papers
January 2015 | Vol. 2015 | No. 1 | 71 pages
Source: CFA Institute
Mohini Singh, ACA Sandra Peters, CPA, CFA Kurt N. Schacht, JD, CFA



Complexity in financial reporting can be seen from various perspectives—those of preparers, accountants, auditors, and investors. Differences in perspectives lead to differences in views as to how complexity should be addressed. The current dialogue focuses largely on preparers’ concerns regarding financial reporting complexity and its associated compliance costs. Missing from the current dialogue, however, are investors’ perspectives. This report analyzes what investors believe are unavoidable (transactional) and avoidable (accounting) sources of complexity and how current standard-setter initiatives should be refocused to eliminate avoidable complexity to increase transparency and bring about meaningful change.

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