A report was recently released at an international conference in Paris. The 20-page report is entitled “Global Capital Markets and the Global Economy: A Vision from the CEOs of the International Audit Networks,” and its authors are the heads of PricewaterhouseCoopers, Grant Thornton International, Deloitte, KPMG International, BDO International, and Ernst & Young.The report is intended to promote “a robust dialogue about how global financial reporting and public company auditing procedures must adapt to better serve capital markets around the world.”

I found certain statements in the report particularly interesting, beginning with, “As the CEOs of the six leading global audit networks, we believe we have a unique perspective and responsibility to serve as a facilitator for a conversation about how these core needs can be more fully met--now and in the future. Although our profession is, of course, foremost in our minds, we also believe that the ideas we advance in the following pages will benefit all stakeholders who care about the vitality and performance of our increasingly global capital markets.”

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