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IFAC steps up campaign to restore investors' faith.

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PositionNews Round-Up - International Federation of Accountants' corporate governance standards - Brief Article

The International Federation of Accountants (IFAC) has agreed to launch a new set of initiatives--including a global review of corporate governance standards--in a bid to rebuild public confidence in corporate performance.

CIMA's chief executive, Charles Tilley, was among more than 40 global accountancy leaders who met in New York last month to discuss corporate failures such as Enron, WorldCom and Parmalat, and their implications for the profession around the world.

The following initiatives were approved:

* A global review of corporate governance, highlighting the need to reinforce key areas and to clarify the place of the audit in a corporate governance framework. The review is aimed at enhancing the security of investments by recommending actions to strengthen integrity and ethics in governance and management.

* The co-ordination and dissemination of IFAC's structure and output to focus on audit and accounting responsibilities, and to improve the credibility...

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