Principles-based standards and capital-market stakeholders

On January 15, 2008, the world’s six largest audit and accounting networks hosted the fourth Global Public Policy Symposium in New York. At this meeting, approximately 300 investors, regulators and standard-setters from around the world came together to discuss a series of issues key to the capital markets. A white paper on Principles-Based Accounting Standards was formally released by the CEOs of the international audit networks. The firms believe a commonly-accepted framework on the development of principles-based standards is essential as more countries adopt IFRS.