The following letter was in the FT this morning:

Sir,

The Parliamentary Commission on Banking Standards recently announced its intention to establish a panel to look into tax, audit and accounting issues. The panel is — among other things — considering whether the International Financial Reporting Standards contributed “to a box-ticking culture to the exclusion of promoting transparency and a true and fair view of the business”. As long-term investors, we welcome this panel.

Eric Tracey, Partner, Governance for Owners

Daniel Summerfield, Co-head Responsible Investment, USS Investment Management

Frank Curtiss, Head of Corporate Governance, RPMI Railpen

Robert Talbut, CIO, Royal London Asset Management

Iain Richards, Head of Governance and Responsible Investment, Threadneedle Investments

Roger Collinge, Head of Corporate Governance Group, UK Shareholders Association

Ian Greenwood, Chairman, Local Authority Pension Fund Forum

Mark Fawcett, CIO, National Employment Savings Trust

Mike Taylor, Chief Executive, London Pension Fund Authority

Abigail Herron, Corporate Governance Manager, The Co-operative Asset Management