IFAC seeks to restore credibility of financial reports.
An August report, Rebuilding Public Confidence in Financial Reporting: An International Perspective, from a task force commissioned by the International Federation of Accountants  The external links in this article or section may require cleanup to comply with Wikipedia's content policies. offers recommendations--from a global viewpoint--for strengthening corporate governance Corporate Governance
The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. , improving audit effectiveness and raising the standard of regulation for securities issuers (www.ifac.org/credibility). The task force also called for creating effective codes of ethics ethics, in philosophy, the study and evaluation of human conduct in the light of moral principles. Moral principles may be viewed either as the standard of conduct that individuals have constructed for themselves or as the body of obligations and duties that a for corporate employees and codes of conduct for other participants in the financial reporting process such as investment analysts and lawyers--along with providing suitable training programs and ongoing monitoring of compliance.
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