The issue of global standards in accounting can hardly be more topical. We believe it is important that the views of investors are heard in the debate on financial reporting standards. It has often proved difficult for users to provide consistent input and a coherent voice in the standard-setting process, and policy-makers have not always seen investors as the appropriate starting point for a debate on the value of accounting or auditing standards. The danger of this is that the very people whom accounts are supposed to be prepared for are effectively excluded from the decision making process.
This survey, covering Asia-Pacific, the Middle East, Europe and the US, shows that there is general support among investors and CFOs for global standards. Most importantly, as countries have gained experience in using global accounting standards, their support has tended to increase. It should also be noted that there is strong support for the advent of global standards in areas such as non-financial reporting, corporate governance and