Following their summit meeting in Seoul on 11-12 November 2010, the leaders of the G20 group of nations have issued a Declaration reaffirming their support for a single set of global accounting standards as a means for strengthening the global financial market infrastructure. This new Declaration makes reference to convergence deadline "by the end of 2011".
The G20 was first organised in the wake of the Asian financial crisis of the late 1990s. With the onset of the global financial crisis in 2008, the G-20 has become the principal forum to lead global efforts to stem the crisis and mitigate its effects. Below is an excerpt from the Declaration following the Seoul summit.
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