Last July the Monitoring Group published a set of recommendations the purpose of which was to strengthen the standard setting system in respect of international audit and ethical standards: see here (pdf). A progress report has now been published: see here (pdf). This notes that, following development of a transition plan, many aspects of implementation are underway. The Monitoring Group's members include the IOSCO, Basel Committee on Banking Supervision, European Commission, Financial Stability Board, IAIS, IFIAR and World Bank.
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