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Corporate Interests Dominate Accounting Standards, Investors Say

Oct. 30, 2020, 5:58 PM

Investors and analysts are getting short shrift in creating rules that are supposed to help them understand companies’ bottom lines, a group of investors wrote in a scathing letter to the Securities and Exchange Commission.

The Financial Accounting Standards Board and its international counterpart, the International Accounting Standards Board, have ignored investor requests to focus on meaningful changes like improving company cash flow statements, the investors wrote in an Oct. 26 letter. Instead, the standards setters have focused too much on simplifying existing rules so they’re easier for companies to implement, they said.

“It’s not that they haven’t done some ...