G8 Ministers urge swift IASB action on SPEs and valuation
16 Jun 2008
The Finance Ministers of the G8 countries met on 14 June 2008 in Osaka, Japan, in preparation for the Summit of the G8 Heads of State and Government to be held 7-9 July 2008 in Hokkaido-Toyako.
The Communique released by the Finance Ministers (PDF 21k) at the conclusion of the meeting addressed a wide range of issues, including the world economy, commodity prices, climate change, development, and abuses of the financial system. With regard to financial reporting, the communique said:
We call on the IASB to accelerate its reviews of accounting issues around off-balance sheet entities and valuation in illiquid markets.
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