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."

Related Summaries