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AfricaMoney | October 19, 2017

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Mauritius hosts international meeting on investor information quality

Mauritius hosts international meeting on investor information quality

For all those who feel that financial information provided by companies is designed to hide more than it reveals, the International Organisation of Securities Commissions’ meeting in Mauritius drills deeper into the quality of financial information provided to investors by listed companies and financial institutions. (Image: business.mega.mu)

There’s good news for all those who feel that financial information provided by companies is designed to hide more than it reveals. The International Organisation of Securities Commissions (IOSCO) is holding a meeting in Mauritius that focuses on the quality of financial information provided to investors by listed companies and financial institutions, and the accounting and auditing standards that underpin this information.

The meeting of IOSCO’s Committee 1 (C1) on Issuer Accounting, Audit and Disclosure is being hosted by the Financial Services Commission (FSC) from 21 to 24 October at the FSC House in Ebène.

The IOSCO C1 comprises representatives of 28 member countries around the globe and the meeting is accordingly expected to feature dialogue sessions with representatives of the biggest auditing firms at international level as well as African technical partners. A presentation by the Johannesburg Stock Exchange on Issuer Use of Integrated Reporting in South Africa is also covered under the scope of the meeting.

Clairette Ah-Hen, Chief Executive of the FSC, noted that the IOSCO C1 meeting in Mauritius is an excellent opportunity for the FSC to act as a major partner and facilitator for the IOSCO. She further said that the active participation of the FSC at the highest discussion level will allow the staff of the Commission to keep abreast of international developments and to build relationships among regulators and stakeholders.

The FSC is the only African Regulator on the IOSCO C1. As an active member, the FSC aims at sharing experiences and best practices with other regulators and international financial institutions. At the same time, its presence in the IOSCO increases the visibility of Mauritius on international platforms. The FSC’s role at the level of the IOSCO C1 is particularly relevant given that the IOSCO works intensively with the G20 and the Financial Stability Board on the global regulatory reform agenda.

IOSCO is the international standards setting body for the securities sector. It develops, implements and promotes adherence to international standards for securities regulation. IOSCO also works extensively with other international standards setting bodies such as the International Accounting Standards Board (IASB) and the International Auditing and Assurance Standard Board (IAASB). The IOSCO board reviews the regulatory issues facing the international securities markets and coordinates responses to concerns raised. The work of the IOSCO Board is conducted through seven IOSCO committees, each working in a policy area under the aegis of the Board.

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