Public issues briefing

In this issue we focus on reporting, both financial and non-financial. We also bring you the results from the latest ACCA and IMA Global Economic Conditions Survey, which is the largest regular economic survey of its kind. Our recent global advocacy work highlights:

1. Global business fundamentals showed genuine signs of improvement in early 2013, with respondents flagging reduced pressures on cashflow, new orders and improved access to growth capital, which contributed to an overall improvement in business conditions. However, while results were promising for Q1, confidence is likely to be short-lived.

2. The International Integrated Reporting Council (IIRC) issued the highly-anticipated draft framework for integrated reporting, with a consultation document, Consultation Draft of the International <IR> Framework, calling for responses by 15 July. ACCA believes integrated reporting will be a significant step forward in corporate reporting and urges business leaders and investors around the world to respond to the IIRC consultation.

3. Audit is a critical global issue that is under the spotlight everywhere, but different solutions are being promulgated. Global cooperation between regulators is essential to ensure audit quality, transparency, and faith in the audit process. It is essential there is a global debate between regulators, law makers, and the audit profession to determine what works. 

If you have any feedback that you would like to share, please contact Katherine Ng, editor.