The International Federation of Accountants
(IFAC) has urged the G20 leaders meeting in Mexico to focus on
global solutions to global issues, to create sustainability and
growth.
The recommendations, contained in a letter to
the G20, include:
Globally adopting and implementing IFRS and
ISAs as well as auditor independence requirements set out in the
Code of Ethics for Professional Accountants issued by the
International Ethics Standards Board for Accountants;
- That the G20 works to support strengthening
resourcing and governance arrangements of international regulatory
organisations including standard setters that have clearly defined
expectations and responsibilities; - That the G20 supports initiatives leading to
greater transparency in the management of public resources; - That the G20 formally signals its support for
the work being undertaken by the International Integrated Reporting
Council with respect to developing a framework for integrated
reporting; - That governments and regulators adhere to
principles of high-quality regulation, especially economic impact
assessment, in implementing evidence-based regulatory reform;
and, - That G20 nations support initiatives aimed at
strengthening the accountancy profession in developing and emerging
countries.
“The current problems being confronted by the
global community require enhanced management of public resources,
improved non-financial reporting, and more sustainable
organisations. The accountancy profession is well-placed to assist
in finding and implementing these solutions,” IFAC chief executive
Ian Ball.
Related link
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