PR Newswire has become a strategic partner of the Enhanced Business Reporting Consortium, an organization that encourages corporations to report non-financial measures of business performance, the company announced today.
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The Enhanced Business Reporting Consortium, http://www.ebrconsortium.org/ , is working to create a standard format to, according to its mission statement, "improve the quality, integrity, and transparency of information used for decision-making in a cost effective, time efficient manner."
"PR Newswire supports the mission of the consortium to create a framework for communicating intangibles in a more transparent and effective manner," said Mark Hynes, managing director of investor relations services at PR Newswire. "The non-financial information published in the Operating and Financial Review or filed in the Management's Discussion & Analysis or within a news release is just as important as the financial information in evaluating a company's business performance. By establishing a standard means to communicate this information, investors will be able to make much more informed decisions and the capital markets will benefit."
As a member of the consortium, PR Newswire will work with other member organization to facilitate a transformation of the business reporting supply chain that will significantly increase the efficiency of the reporting process and improve the relevance and comparability of reported business information for decision making. The Consortium also intends to develop and execute a plan for market-driven implementation of enhanced business reporting.
PR Newswire is also closely involved in the education and promotion of XBRL, eXtensible Business Reporting Language, as a standard financial reporting technology, through its membership in XBRL International.
PR Newswire facilitates the disclosure of material news for more than half of the public companies listed on the New York Stock Exchange, American Stock Exchange and the Nasdaq Stock Market that use a newswire to distribute their news. PR Newswire is also a recognized disclosure vehicle in the United Kingdom, and provides news distribution services for companies throughout Europe, Asia, Latin America and the Middle East. The company also plays a critical role in educating the corporate, investor and regulatory communities around the world on issues of disclosure and transparency.
About PR Newswire
Now in its 51st year, PR Newswire Association LLC ( http://www.prnewswire.com/ ) provides electronic distribution, targeting, measurement, translation and broadcast services on behalf of some 40,000 corporate, government, association, labor, non-profit, and other customers worldwide. Using PR Newswire, these organizations reach a variety of critical audiences including the news media, the investment community, government decision-makers, and the general public with their up-to-the-minute, full-text news developments.
Established in 1954, PR Newswire has offices in 11 countries and routinely sends its customers' news to outlets in 135 countries and in 30 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters, investors and individuals who seek breaking news from the source. PR Newswire's leading services include Disclose, ProfNet Experts(SM), eWatch™, MEDIAtlas™, NewsPrompt™, Search Engine Visibility (SEV) and MultiVu™. PR Newswire is a subsidiary of United Business Media plc of London.
About Enhanced Business Reporting Consortium
The Enhanced Business Reporting Consortium is being established upon the recommendation of the Special Committee on Enhanced Business Reporting. When fully organized, the Consortium will be an independent, market-driven, international collaboration of investors, creditors, analysts, management, boards of directors, regulatory agencies, standards setters, members of academia and all other stakeholders, and will be charged with developing EBR guidelines and definitions.
The overarching theme of the Consortium is: "Better markets through better information."
The mission of the Consortium is envisioned as: "A Consortium of stakeholders collaborating to improve the quality, integrity, and transparency of information used for decision-making in a cost effective, time efficient manner."
Decision-making within the Consortium is expected to be guided by the spirit and principle that all participants in the capital markets must demonstrate responsibility and accountability for the quality of information provided to the market.
Contact: Rachel (Asche) Meranus, Director of Public Relations, PR Newswire, +1-212-282-1929 orrachel.meranus@prnewswire.com
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SOURCE: PR Newswire
CONTACT: Rachel (Asche) Meranus, Director of Public Relations,
PR Newswire, +1-212-282-1929 or