New report presents International Perspective on strengthening financial reporting process."Rebuilding Public Confidence in Financial Reporting: An International Perspective," a report from an independent 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. , includes
recommendations for strengthening corporate governance Corporate GovernanceThe 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 of issuers. It also presents an international perspective on the challenges facing not only the accounting profession, but also those involved in regulating a profession that has such a significant involvement in capital markets worldwide. The report was developed by a task force chaired by John Crow John W. Crow (born 1936) was the fifth Governor of the Bank of Canada from 1987 to 1994, succeeding Gerald Bouey. He was succeeded by Gordon Thiessen. Born in London, England,he went to Parmiter's School also he served with the Royal Air Force for two years before receiving , former Governor of the Bank of Canada The Governor of the Bank of Canada is chief executive officer and the chairman of the board of directors of the Bank of Canada. The current Governor is David A. Dodge, since 2001. . It included individuals with backgrounds in commercial banking, international economics, academia and law, as well as accounting and auditing. (Olivia Kirtley, a former chair of the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). and current chairperson of the AICPA Board of Examiners, also served on the task force.) Six countries (Australia, Canada, France, Japan, the United Kingdom, and the United States) were represented. The full report and a complete list of recommendations can be accessed online. A database of relevant articles and speeches may also be accessed through this Web site. www.ifac.org/credibility |
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