The IMF predicts that the credit crunch could result in losses of as much as $1trillion (£50bn)
The International Monetary Fund has suggested that fair value accounting rules be reviewed, on the back of a report which highlights how the practice exacerbated the asset prices.
The global fund is the latest senior organisation calling for a change in the rules, as investment banks, accounting advisory bodies and senior executives criticised the standard in recent weeks.
The IMF predicts that the credit crunch could result in losses of as much as $1trillion (£50bn).
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