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IFAC urges G20 to call for global adoption of IFRSs and ISAs

  • IFRS - IFAC Image

Aug 25, 2016

On August 25, 2016, the International Federation of Accountants (IFAC) has submitted recommendations for endorsement by the Group of Twenty (G-20) during their meeting in China on September 4-5, 2016.

IFAC believes that it is crucial for the G-20 to restore trust and increase transparency globally.

More specifically, IFAC calls on the G-20 to address:

  • Strengthening governance, which in both the public and private sectors is at the heart of accomplishing the G-20 objectives of recovery, growth, and stability, as well as combatting fraud and corruption and restoring public trust and integrity.
  • Promoting and adopting principles for good regulation to create a more consistent, effective international regulatory environment.
  • Acknowledging the importance of international standards across all jurisdictions, including international standards for accounting, auditing and assurance, professional ethics and education, and public sector accounting.

Please click here to access the full letter and a cor­re­spond­ing press release on the IFAC's Web site.

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