New report presents International Perspective on strengthening financial reporting process.

• Position: Brief Article

"Rebuilding Public Confidence in Financial Reporting: An International Perspective," a report from an independent task force commissioned by the International Federation of Accountants, includes recommendations for strengthening corporate governance, 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, former Governor of the Bank of Canada. It included individuals with backgrounds in commercial banking...