Accountability, Sustainability, and Growth Recommendations for the G-20 Leaders’ Summit

IFAC offers a number of recommendations for consideration at the G-20 Leaders’ Summit on September 5-6, 2013 in St. Petersburg, Russia.

These recommendations focus on actions aimed at promoting accountability, sustainability, and growth, and are primarily directed toward the stated priority of the Russian presidency of the G-20: growth through trust and transparency. The trust and transparency required to promote accountability, sustainability, and growth and to overcome the current serious global economic problems must be consistently encouraged at the international level by G-20 countries.

IFAC believes that G-20 countries should consider directing attention toward at least four specific areas that would inspire greater levels of trust and transparency. They are: the adoption and implementation of globally accepted, high-quality international standards and requirements across all key aspects of the financial sector; improving public sector financial management; ensuring countries cooperate to promote sound and effective taxation arrangements; and enhancing the type and format of information provided by organizations to key decision makers.