G20 Reform Built on Uneven Foundations

G20’s four pillars for agenda reform built on uneven foundations, says ACCA The global body for accountants, ACCA (the Association for Chartered Certified Accountants) has responded to last week’s G20 meeting by saying that its “pillars for agenda reform” are built on shaky ground. The G20’s first pillar – a strong regulatory framework, and the third pillar – resolving issues to do with financial institutions in crisis – are particularly unsteady and lack real global co-ordination, says ACCA, highlighting the fact that no decision was agreed on a global bank tax. Helen Brand, chief executive of ACCA, says: “There was a clear message from G20 leaders that taxpayers should not be stuck with the bill when banks fail. But the communiqué says that individual nations will decid... »