Moss Adams CEO Rick Anderson has written to Treasury Secretary Timothy Geithner urging him and other world financial leaders at the G-20 meeting next week to act more quickly on global accounting and corporate governance issues.
In the letter, Anderson called for faster progress in the U.S. and other major economies toward the adoption of international standards for financial reporting, auditing, and corporate governance, as the world grapples with reforming the global financial system.
"We urge the G-20 to hold itself to a high standard in moving to a single high-quality set of standards for public and private sector financial reporting and auditing, he wrote. Capital markets are increasingly global and the proper response is a truly global approach to producing financial information for decision makers and other stakeholders.
Robert Bunting, chair of the Moss Adams International Services Group and president of the International Federation of Accountants, also urged action on accounting reform at the upcoming summit in Pittsburgh. "The global community of leading nations has already agreed on the importance of uniform standards in a number of areas, he said in a statement. For example, virtually all of the G-20 nations have already committed to make a best effort attempt to implement the Organization for Economic Co-operation and Development guidelines on corporate governance. However, agreement is a long way from adoption or implementation, and now is the time to get serious about reform.
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