JICPA Releases "Key Issues towards Useful and Reliable Corporate Disclosure - Realizing a Sustainable Value Creation Cycle through Interaction between Disclosure and Governance - "
JICPA issued the discussion paper on corporate reporting titled "Key Issues towards Useful and Reliable Corporate Disclosure" - Realizing a Sustainable Value Creation Cycle through Interaction between Disclosure and Governance - on 21 August 2020. The report has been development through discussion in the Special Committee on Corporate Disclosure and Corporate Governance, with the participation of external experts including investors and independent directors of public companies.
The report can be obtained at;
"Key Issues towards Useful and Reliable Corporate Disclosure" - Realizing a Sustainable Value Creation Cycle through Interaction between Disclosure and Governance -
The committee identified issues to be addressed to improve the usefulness and reliability of corporate disclosure and discussed the direction to be taken to address such issues.
The discussion was predicated on corporate information required by capital providers in capital markets, i.e., investors, and based on the idea that it is important for corporate disclosure to enable entities to sustainably create value through an organic connectivity with corporate governance, while increasing its value to information users by enhancing its usefulness and reliability.
Furthermore, the committee also discussed the roles to be played by certified public accountants (CPAs) to support and safeguard the disclosure system.
This report is an interim report, and would be finalized in 2021.
This Interim Report presents recommendations on the identification of issues to be addressed and how to address them based on JICPA's analysis.
Special Committee on Corporate Disclosure and Corporate Governance will continue further review through consultations with stakeholders involved in corporate disclosure and compile the final report reflecting its results in 2021.
We welcome any feedback to the interim report.