G20 summits/Addendum: Difference between revisions
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==Actions agreed at the first summit== | ==Actions agreed at the first summit== | ||
===By accounting standards bodies=== | ===By accounting standards bodies=== | ||
====Immediate | ====Immediate actions by March 31, 2009==== | ||
* enhance guidance for valuation of securities | * enhance guidance for valuation of securities | ||
* address weaknesses in accounting and disclosure standards for off-balance sheet vehicles. | * address weaknesses in accounting and disclosure standards for off-balance sheet vehicles. | ||
Revision as of 02:48, 17 November 2008
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.