Financial services professionals and firms need to do a better job of implementing globally accepted international standards for financial reporting, according to a new report from a task force led by the International Federation of Accountants.

The report, released Thursday by a group known as the Private Sector Taskforce of Regulated Professions and Industries, calls for the G-20 to encourage and support the development, adoption, and implementation of one set of globally accepted standards  in these and other areas.

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