Making financial reporting simpler and more useful - GAA report published

The Global Accounting Alliance - an alliance of professional accounting bodies from across the world formed in November 2005 - has published its report Making Financial Reporting Simpler and More Useful - the Way Forward: see here (pdf). The GAA expresses its support for a single set of globally accepted, principles-based financial reporting standards, primarily focused on transparency and the needs of capital markets rather than the needs of prudential regulators.