G-7 ministers seek 'urgent action' by the IASB
12 Apr 2008
The G-7 Finance Ministers and Central Bank Governors, meeting in Washington, have strongly endorsed the recommendations in the FSF report highlighted in our news story immediately below.
Regarding the IASB, the G-7 said:
Click for the Statement of G-7 Finance Ministers and Central Bank Governors (PDF 23k).
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We have identified the following recommendations among the immediate priorities for implementation within the next 100 days: The International Accounting Standards Board (IASB) and other relevant standard setters should initiate urgent action to improve the accounting and disclosure standards for off-balance sheet entities and enhance its guidance on fair value accounting, particularly on valuing financial instruments in periods of stress. |
