Work together along industry lines to create thoughtful proposals for greater transparency involving both simplification and enhancement
Lead positive change, through a collaborative solution, by establishing an international Enhanced Business Reporting Consortium of diverse stakeholders to improve the quality and transparency of information used in decision-making
Market collaboration is the best solution for all participants
Are there any alternatives to the EBR Consortium?
Do nothing and…
Live with uncertainty in the markets about strategic intent and future performance, but remember, uncertainty breeds market volatility
Fail to demonstrate that users and providers of market capital are committed to hold themselves accountable for the quality of the information provided to the capital markets
Fumble an opportunity to build upon the SEC's interest in a market-led effort
One thing is certain…
Failure of the business community to develop and present constructive proposals will result in future regulatory mandates
Companies are trying to explain why they did not make a target that they didn’t set in the first place
“ Enhanced Business Reporting will help companies move beyond the earnings game; placing more emphasis on measures that give a better picture of their value, their risks, and their opportunities. ”
Financial Accounting Standards Board
What does the SEC think of the Enhanced Business Reporting Consortium?
“ I am encouraged by the Enhanced Business Reporting Consortium's efforts to develop a voluntary, internationally recognized framework for presentation of industry-specific key performance indicators and disclosure of non-financial information about opportunities, risks and management's strategies and plans.
This effort represents the type of discussion and action that should be occurring in the marketplace as we all seek to continually improve the value of information for the sake of investors. ”
Don Nicolaisen Chief Accountant Securities and Exchange Commission
We are on the verge of a fundamental transformation of business reporting practices Will you join us in providing leadership for change? www.ebrconsortium.org
XBRL & Enhanced Business Reporting: A Consortium Approach Dr. Robert G. Eccles XBRL International April 27, 2005 Boston, USA