VIENNA, VA: NIRI has issued the third edition of its standards and guidelines covering the roles of both corporate IR officers and outside consultants. The guidelines were updated to provide guidance on changes stemming from the Sarbanes-Oxley Act and the resulting SEC regulations.
Lou Thompson, NIRI's president and CEO, said about 80% of the standards have been rewritten. Thompson said that due to Sarbanes-Oxley, companies wanted to see a sample disclosure policy, which is now included in one of the appendices. Yet Thompson points out that the disclosure policy included is not a "one size fits all," solution, but does work well for a company that uses GAAP numbers and provides guidance about its future, as most companies do.
The 58-page Standards of Practice for Investor Relations covers five major areas: responsibilities of the corporate IR officer; corporate disclosure issues; the role of the IR counselor; standards and guidance for corporate disclosure; and appendices that include the sample disclosure policy.
NIRI members can access a free PDF version of the standards at the group's website, www.niri.org.