IFAC asks G20 to adopt global standards

  • IFAC (International Federation of Accountants) (lt gray) Image

03 Aug 2009

The International Federation of Accountants (IFAC) has urged G20 leaders, at their 23-24 September 2009 meeting in Pittsburgh, Pennsylvania, USA, to encourage adoption and implementation of global accounting, auditing, and auditor independence standards.

IFAC also asks that further steps be taken to enhance the governance of the International Accounting Standards Board. IFAC's letter also includes recommendations on enhancing corporate governance, strengthening of the accountancy profession in developing countries, and developing new tools and metrics to achieve global sustainability. IFAC also asks the G20 to facilitate debate to resolve issues between financial reporting – designed to communicate business performance to investors – and prudential reporting-used to monitor and maintain financial stability. Click for:

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