A new report from a task force led by the International Federation of Accountants urges greater acceptance of globally accepted high-quality international standards for financial reporting, auditing, valuation and actuarial services and other regulations, to restore the proper functioning of the financial markets.

The report, released Thursday by a group known as the Private Sector Taskforce of Regulated Professions and Industries, calls for the G-20 to encourage and support the development, adoption, and implementation of one set of globally accepted standards  in these and other areas.

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