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ACCA Urges Strong G20 Support for IFRS

Lora Bentley

Just about the time I forget about the coming move to International Financial Reporting Standards and the opposition it faces -- particularly in the U.S. -- someone brings the issues to the forefront again. This time, it's the Association of Chartered Certified Accountants. According to Compliance Week, the London-based group has encouraged the G20 nations to "underline their commitment to a single set of global accounting standards" by the time they meet next month.

 

Without that support, ACCA says, political interference with efforts toward IFRS will continue. More specifically, Compliance Week quotes the group this way:

With the future of the U.S. IFRS roadmap uncertain and the global development of IFRS in question, G20 leadership is essential for maintaining commitment to a global solution and in seeking to avoid national or regional versions of IASB-issued IFRS.

 

Last month, the International Federation of Accountants made similar suggestions at the G20 Summit.


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