IFAC's president calls for fast harmonisation of standards.
Position | First in ... - International Federation of Accountants - Brief article |
The convergence and implementation of international accounting standards is crucial for rebuilding the global financial system, according to IFAC's president, Robert Bunting. State bail-outs of the financial and automotive industries are driving demands for such spending to be made transparent, which should lead more governments to adopt international public-sector accounting standards (Ipsas), he said.
"Convergence to Ipsas, which has proceeded more slowly than convergence to those in the private sector, is now urgent," Bunting told delegates at the higher education forum of the National Association of College and University Business Officers in Miami. "We are...
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