Well, PwC has been active as a global network in integrated reporting so we already have a lot of perspectives out in the market about that. And we also do a lot of work in the sustainability space, and I do expect that to the extent that we have views on those topics, we’ll share those with investors and hear their perspectives as well. I think that we probably have a lot of mutuality of interests in both of those topics.
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International Accounting Standards Board chairman Hans Hoogervorst announced recently that the IASB is signing a memorandum of understanding with the International Integrated Reporting Council to try to get more of that information integrated with the financial reports (see IASB Plans to Support Integrated Reporting Effort and IASB and IIRC Sign Agreement to Develop Integrated Reporting Framework). Do you think that might be something PwC would support?
PwC has been very active on the IIRC. [PwC chairman] Dennis Nally has a role on that Council.
What do you think will be the first materials we will be seeing from the group that you’re starting? Is it going to be investor education materials or maybe guidelines?
We already have some material up on the Web site. Most of that has been stuff that PwC has produced for the public at large and we thought was of particular interest to investors so we’ve focused on that. We do have one new document that we had at the launch of the Web site called “Demystifying the Audit.” Again, it’s toward the layperson’s perspective of what auditors do and what they don’t do, hopefully providing some clarity there. That’s more like the types of information that we’ll be adding to the Web site, things specifically directed toward investors where we can either explain something or provide our perspective. We’re also going to be doing some surveying work and polling of investors. If you look at the Web site, it’s categorized into two sections: insights for the investment community and insights from the investment community. In the “from” category, we’re going to be doing surveying and reaching out to investors to get a better understanding of specifically what topics would they benefit most from, or are most interested in having us work on, or provide our perspectives on, and what kind of tools would be most useful for them? Do they use computers, do they use laptops, do they use iPads, do they use mobile devices and other things? The first phase of the Institute is really engaging with the investment community to make sure that we provide information and material that’s useful to them.