Morocco: "The keys to success for reliable financial reporting"

Eminent financial information players in Morocco met in Tangier, at an event organised by the Club des Financiers Du North, with guests including the Casablanca Stock Exchange, the Regional Council of the Order of Expert Accountants of Tangier-Tetouan-Al Hoceima, the Moroccan Association of Financial Consolidators (AMCF) and the Moroccan Capital Market Authority (AMMC), in which various discussions were held under the common title "The keys to success for reliable financial information". 

This event brought together the various Moroccan market players to focus on the importance of preparing and disseminating reliable financial information in the light of the latest regulatory and normative developments. 

During this roundtable, experts highlighted the importance of disseminating reliable financial information, the means used to distribute this information, and how new regulations impact the quality of financial information. Another topic that has been present during these talks has been the role of digitalisation in this sector, how to implement new technologies to fight disinformation and to be able to maintain a reliable and quality flow of information. They also emphasised visions for the future and possible areas of improvement in which they can invest.  

The panellists stressed the importance of the flow of reliable financial information and how this is directly related to the establishment of interactions and relationships of trust between the different actors in the financial market.  

The Moroccan Capital Market Authority, the main speaker at these talks, is the body responsible for ensuring the protection of the Moroccan financial and stock market with functions such as surveillance, handling complaints, issuing Circulars, and monitoring the financial information of issuers, which ensures that "investors receive regular information on issuers and ensure that issuers comply with their obligations to publish financial statements regularly and disclose all material information that may affect the share price of their securities or affect the savings of security holders". 

Financial information is a key element for the functioning of capital markets and the decisions taken by investors. The quality and reliability of this information depends on a number of factors such as accounting standards, internal control, external audit and regulatory oversight, and is the basis for the development of relationships of trust between financial actors.