October 21, 2008 - The Technical Committee of the International Organization of Securities Commissions (IOSCO), published today a statement regarding accounting standards development and enforcement.
In its statement, IOSCO's Technical Committee explains that, following discussions of the important role of accounting standards in the context of the current financial crisis, and in light of the importance of financial reporting standards to the proper functioning of the capital markets, it has come together as a community of authorities responsible for capital markets and accounting to reaffirm its commitment to the development and enforcement of high quality accounting standards.
The statement also underlines the fact that IOSCO's Technical Committee strongly supports accounting standards that afford investors transparency, maintain market integrity, facilitate capital formation and are consistent with financial stability.
Québec's Autorité des marchés financiers (AMF) is a long-standing member of IOSCO and participates actively on IOSCO's committees.
Please note that this statement is only available in English and can be found on IOSCO's website This link will open in a new window.