G20 summit must address accounting issues, says ACCA

The Association for Chartered Certified Accountants has called on world
leaders to throw their weight behind international financial reporting standards
at the G20 summit next month.

In a discussion paper, ACCA president Richard Aitken-Davies says the G20
needs to better promote the adoption of International Financial Reporting
Standards by all of its members.

“It is a major failing that IFRS are not already the global accounting
language for all finance professionals,” Aitken-Davies says.

But he cautioned against rushing to implement ‘over-prescribed’ legislation,
stressing that existing regulatory measures must take priority.

Read the ACCA report:

Summit Briefing Paper

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