According to a survey conducted by SMU and the Investor Relations Professionals Association (Singapore) (IRPAS), investor relations functions are becoming central to the success of companies, though the resources put into the practice vary between cap (market capitalisation) sizes. The survey also found that 69 per cent of Investor Relations Officers (IROs) in Singapore consistently attend meetings with upper management, which IRPAS claims reflects the growing importance of the profession. At the same time, however, the survey shows a disparity between how seriously companies of different cap sizes consider the role: though 94 per cent of large or mid-cap firms in the country have a dedicated IRO or team of IROs, only 32 per cent of small-cap companies have the same.