The Global Auditor Investor dialogue recognises the need to restore confidence in the current economuc climate and sees enhanced disclosures relating to accounting, audit and risk controls as having a pivitol role in achieving this.

Accordingly, certain Dialogue members agree to convene an independant working group to develop guidelines, which would focus primarily on disclosure and be capable of general application on a global basis, to assist not only on boards and audit committess in fulfilling their responsibilities, but also investors and shareowners in their evaluation of annual reports and constructive engagement with companies on audit, risk and control matters.