"Earnings Quality" has been a subject of investigations by regulators in many countries, articles in most, if not all, business publications, and significant debate in recent years. It is a matter of importance in the financial reporting and regulatory communities, and it impacts the confidence of investors in global financial markets. For this reason, the American Institute of CPAs in the U.S.

The 2002 theme booklet focuses on the theme of Risk Management from both the traditional review of the financial risks of a company and the emerging application of risk management techniques in the areas of strategy, reputation and people.

As national bodies become more aware of their SMP constituents and their needs, at least some of those bodies have been taking actions and developing programs to help SMPs play a more effective role in the domestic marketplace. But, to deal with the presence and needs of SMPs on an international scale, it is first necessary to determine just where they fit into the global picture.

The Study aims to assist governments at all levels in the identification of issues associated with financial reporting. Although some parts of the Study may relate to national governments only, other parts are applicable to all levels of government.