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ABI responds to launch of accountancy crisis advisory group

Responding to the launch of the IASB / FASB[1] Financial Crisis Advisory Group (FCAG) on which he will sit, Stephen Haddrill, the ABI's Director General, said:

"The creation of this Group is a positive step, and I look forward to actively participating in its work. Investors need clear, reliable information and I continue to see fair value as the best way to achieve that. However, during the current crisis we must make sure such transparency does not destabilise markets, and I will be keen to look at how that can be avoided.

"Central to any development is a strong and truly independent IASB based on legitimacy, with effective communication and engagement with a wide range of stakeholders, particularly investors as users of accounts."

[1] International Accounting Standards Board / US Financial Accounting Standards Board

Last updated 01/07/2016