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G20 call for global standards by 2011

28 Sep 2009

Following their meeting in Pittsburgh, Pennsylvania USA on 24-25 September 2009, the leaders of the G20 nations issued a Final Statement identifying a range of additional steps that should be taken to strengthen international financial regulatory system to avoid a future global financial crisis.

One of their stated goals is complete convergence of accounting standards across the G20 member nations by June 2011:

We call on our international accounting bodies to redouble their efforts to achieve a single set of high quality, global accounting standards within the context of their independent standard setting process, and complete their convergence project by June 2011. The International Accounting Standards Board's (IASB) institutional framework should further enhance the involvement of various stakeholders.

Here is the link to our Comprehensive Credit Crunch Page.

Click for G20 Leaders Final Statement (PDF 102k).