Deloitte endorses recommendations outlined in the newly released report from the Enhanced Disclosure Task Force
New York, 31 October, 2012 – Deloitte Touche Tohmatsu Limited (DTTL) today expressed its support of the recommendations released earlier this week by the Financial Stability Board's (FSB) Enhanced Disclosure Task Force (EDTF). The EDTF was formed in May 2012 as a private sector grouping at the initiative of the FSB, bringing together financial institutions, users of accounts and audit firms to develop recommendations for enhancing the risk disclosures of major banks.
Deloitte was an active participant in this initiative and welcomed the opportunity to contribute. With clients spanning across industries and around the world, Deloitte member firms are supportive of all efforts to enhance reporting quality in a challenged global economy. The recommendations released by the EDTF are a move towards building greater trust and confidence in financial institutions and the capital markets.
“Restoring trust in financial services is critical to the recovery of the global economy,” said DTTL Global CEO Barry Salzberg. “The recommendations made by the EDTF are concrete steps towards greater transparency and improved reporting, both of which are key to that restoration. As an organization, we will remain committed to contributing to this effort, as well as others with the same goal.”
To view the full EDTF report, please visit http://www.financialstabilityboard.org/publications/r_121029.pdf.
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