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IFAC calls on G-20 to support international standards

Tammy Whitehouse | August 26, 2016

In advance of the G-20’s September meeting in China, the International Federation of Accountants is calling on the Group of Twenty nations to make a plug for international accounting and auditing standards as part of a broader stand to pursue economic and regulatory stability.

IFAC produced an 8-page paper addressed to the G-20 to outline a vision for how to establish better governance across public and private sectors to drive global economic stability. That means greater transparency across all organizations to help restore trust in the institutions that form the basis for the world’s financial markets, says IFAC CEO Fayez Choudhury. “The global economic recovery is uneven, and social and political destabilization risks remain high in many parts of the world,” he said in a statement.

With an economy that is increasingly interconnected, achieving...

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