IFAC Makes Recommendations to G-20 in Pursuit of Global Economic Stability
In a recent letter to the G-20, IFAC issued a call for institutional changes and urged pursuit of a coordinated long-term approach to promote global economic stability and greater fiscal sustainability. The letter, issued prior to the G-20 meeting in Cannes, France, November 3-4, 2011, encourages a focus on:
• Addressing public sector debt problems by encouraging review of institutional changes in public sector financial management and adoption of accrual-based accounting;
• Maintaining momentum for regulatory convergence, including adoption and implementation of international standards; and
• Supporting integrated reporting and the work of the International Integrated Reporting Committee.
The letter to the G-20 with the full recommendations is available on the IFAC website.