Sally Ann Flood is a partner at Deloitte and served as the chair of the NCREIF PREA Reporting Standards Council from 2015 to 2019. Recently, she spoke with Loretta Clodfelter, editor of Institutional Real Estate Americas, about the benefits of performance reporting standards in the real estate investment community, as well as the efforts by the National Council of Real Estate Investment Fiduciaries (NCREIF) and Pension Real Estate Association (PREA) to establish those standards. The following is a lightly edited transcript of their conversation.

This fall marks five years you’ve spent as chair of the NCREIF PREA Reporting Standards Council. When you look back at what the Council and the board have achieved during your tenure, what stands out?

I started working with the council and with NCREIF and PREA close to 20 years ago, and I’ve seen the Reporting Standards grow incredibly during this period of time. I would l