IASB ACTING ON G20 PROPOSALS – BUT FORCING NEW REFORMS INTO LAW WORLDWIDE WILL TAKE TIME
December 1st, 2008
BY KEITH NUTHALL, GAVIN BLAIR, and MARK GODFREY
BACK in November 2008, long before the accession of Barack Obama to the US presidency, world leaders gathered together under the G20 banner to forge a common response to the ongoing financial crisis.
As all accountants know, a lack of transparency in balance sheets has named as a key culprit, and the G20 ordered action.
And by the standards of international initiatives, this was to be carried out quickly, with many actions to be taken by March 31. These included, including global accounting standards bodies ...
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