The Institute together with CPA Australia and the National Institute of Accountants (the Joint Accounting Bodies) sent a letter addressed to the Prime Minister to outline the position of the Joint Accounting Bodies on three issues that may be on the agenda of the international summit - fair value accounting, financial reporting and prudential reporting, and the future independence of the international accounting standard setting process.  
 
The views presented in the letter advocate for the retention of fair value accounting, financial reporting outcomes that are consistent with the purpose of financial reporting providing decision-useful information without any modification for prudential reporting purposes, and acceptance of the position of the International Accounting Standards Board as the independent international accounting standard setter. 
 
Download the letter.