The Financial Stability Forum is pleased to have been a strong supporter of this initiative, and I am happy to see that the PIOB is represented at this roundtable today together with the leaders of IFAC and many Monitoring Group representatives. The Financial Stability Forum has taken a close interest in national and international efforts to strengthen confidence in financial reporting frameworks.
Stronger and more-convergent national systems bring clear financial stability and efficiency benefits. The forum's efforts have included a focus on the global-standards-setting activities of the IASB on the accounting side and the IAASB on the auditing side.