The perception of the first reporting season under International Financial Reporting Standards (IFRS) has been broadly positive among fund managers: with 64% of those surveyed by PricewaterhouseCoopers (PwC) believing the new accounting standards have improved transparency.
Of those surveyed, 76% found the information presented in this year’s annual reports very or fairly clear, and 67% found annual reports helpful in interpreting the changes required under IFRS.
However, while respondents seemed more positive about the impact of IFRS than in PwC’s report six months ago, those fund managers who felt the clarity of reporting of financial risk under IFRS was very or fairly clear fell from 77% in the previous survey to 52% now.
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