G-20 should enact worldwide accounting standards, IFAC says

The time has come for the Group of 20 Nations to make a commitment to adopt uniform, global standards for accounting and auditing, the International Federation of Accountants said in a letter to the G-20. "The G-20 leaders must act quickly to build a reformed international financial system," said IFAC chief executive Ian Ball. "While some nations appear to be moving toward recovery from the financial crisis, underlying problems of accountability and transparency remain."

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