G20 stands by international standards

The G20 group of countries has once again given its support for international accounting standards as it gathered for its latest meeting in Toronto at the weekend; however, the G20 has gone some way to relieve the pressure on the convergence project for US and international standards by making no reference to the urgency of the project, and the International Accounting Standards Board has made it clear to G20 that some of its projects will not make cut-off point.