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Financial Crisis Advisory Group publishes wide-ranging review of standard-setting activities following the global financial crisis

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“The Financial Crisis Advisory Group (FCAG), a high level group of recognised leaders with broad experience in international financial markets, today published its recommendations related to accounting standard-setting activities, and other changes to the international regulatory environment following the global financial crisis.”

  • Report of the Financial Crisis Advisory Group, July 28, 2009: “In our discussions, we recognized the critical role that general purpose financial reporting plays in the financial system and we identified four principles that financial reporting must meet if it is to fulfill this role well. We believe that the financial crisis has underscored the importance of these principles.”
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