October 27, 2008

LOOKING OUT FOR INVESTORS IN A GLOBAL MARKETPLACE

Damon A. Silvers, Esq.
AFL-CIO Associate General Counsel

NASBA Annual Meeting – October 27, 2008

I. Broad approach to globalization in accounting and auditing — need a strategy for achieving a robust global regime

II. Accounting

A. Optionality in regimes is a mistake

B. Convergence is preferable

C. Problem of Market-to-Market accounting

III. Auditing

A. Independent oversight is key

IV. Attitudes in Europe are shifting — We need to see Europeans as partners

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