Mr. Speaker, given the hon. member's great experience in this area, he is fully aware that transparency in financial statements by governments and indeed by private sector corporations is essential if we are going to have a sound international system.
As a result of this, consistent accounting standards have to be consistently applied. Therefore we certainly support the role of the public accounts committee in this area and certainly support the efforts of the hon. member in this area.
I am delighted to see that the International Accounting Standards Committee is going to report on this very soon, but this is something in which Canada will certainly take a lead.