November 14, 2008 - Leaders agree on common principles to guide financial market reform. Included in their declarations are goals that will strengthen transparency and accountability. Global accounting standards bodies should work to enhance guidance on valuation of securities, especially during times of stress. With a view toward promoting financial stability, the governance of the international accounting standard setting body should be enhanced, including a review of its membership, to ensure accountability and an appropriate relationship between this independent body and relevant authorities. The declarations from the meeting also stress that key global accounting standards bodies should work intensively toward the objective of creating a single high-quality global standard.