Current Initiatives to Improve Disclosure Presentation by Andrew

Current Initiatives to Improve Disclosure Presentation by Andrew Procter for OECD Second Asian Roundtable on Corporate Governance June 2, 2000 0 P 099 1

Implementation of Objectives & Principles (1) 0 P 099 u 3 Objectives & 30 Principles u Principles relating to Issuers (14 - 16 Disclosure, Accounting, Audit) 2

Implementation of Objectives & Principles (2) 0 P 099 u IOSCO self-assessment u Pilot peer review u Co-operation with IMF/World Bank FSAP u Work with FSF on “incentives” 3

IASC Core Standards (1) 0 P 099 u Recommended use, by multinational issuers, of 30 IASC standards u Supplemented by reconciliation, disclosure and interpretation 4

IASC Core Standards (2) 0 P 099 u IOSCO resolution promotes further development of internationally accepted accounting standards u Continued IOSCO - IASC work - future projects identified u IOSCO Member Survey end 2001 - on implementation of recommendation 5

Auditing Standards u IOSCO comments on exposure drafts of IAPC of IFAC u An area of greater focus in 2000 - 2001 v Technical Committee to consider working party report 0 P 099 6

International Disclosure Standards For Cross Border Offers and Initial Listings (IDS) 0 P 099 u Issued in 1998 u IDS set standards for content of offer documents u Survey of Technical Committee Members u Serve as benchmark 7

New Economy Stocks 0 P 099 u IOSCO task force on “new economy stocks” u Valuation, pricing, listing, disclosure 8

The End 0 P 099 9