G20 summits/Addendum: Difference between revisions

Revision as of 03:47, 17 November 2008

enhance guidance for valuation of securities
address weaknesses in accounting and disclosure standards for off-balance sheet vehicles.
improve disclosure of complex financial instruments by firms to market participants.

work intensively toward the objective of creating a single high-quality global standard.
ensure transparency, accountability, and maintain an an appropriate relationship with the relevant authorities.
work with others to ensure consistent application and enforcement of high-quality accounting standards.
provide enhanced risk disclosures and ongoing disclosure of all losses, and ensure that financial statements include a complete, accurate, and timely picture of the firm's activities.

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+==Actions agreed at the first summit==
+===By accounting standards bodies===
+====Immediate Actions by March 31, 2009====
+* enhance guidance for valuation of securities
+* address weaknesses in accounting and disclosure standards for off-balance sheet vehicles.
+* improve disclosure of complex financial instruments by firms to market participants.
+====Medium-term actions ====
+*  work intensively toward the objective of creating a single high-quality global standard.
+* ensure transparency, accountability, and maintain an an appropriate relationship with the relevant authorities.
+* work with others to ensure consistent application and enforcement of high-quality accounting standards.
+* provide enhanced risk disclosures  and ongoing disclosure of all losses, and ensure that  financial statements include a complete, accurate, and timely picture of the firm's activities.
+===By regulatory authorities===