Monique F. Leroux Advocating for Cooperatives before the IASB, the FSB and the B7

May 13, 2015

Last January, acting in her capacity as Chair of the International Accounting Standards Working Group of the Alliance, Monique F. Leroux, Chair of the Board, President & CEO of Desjardins Group, met with Hans Hoogervorst, Chairman of the International Accounting Standards Board. She was able to share the Alliance’s perspective on international accounting standards and their potential impacts on cooperatives. She welcomed the fact that the IASB is open to taking their specificities into account.

In March, she also met with Andrew Bailey, Deputy Governor of the Bank of England, and with Hervé Guider, General Manager of the European Association of Cooperative Banks, to talk about the Financial Stability Board’s policies. While the Alliance fully supports the FSB’s work to strengthen international financial stability with a view to developing strong regulatory, supervisory and other financial sector policies, she underlined the importance of recognizing the specificities of cooperative banks by ensuring a level-playing field.

On May 19-20, she will represent Canada at the next B7 Summit in Berlin. She will seize this opportunity to talk about the role that cooperatives play in the global economy. The B7 is the business advisory group to the G7. The 41st G7 Summit will be held at Schloss Elmau in Bavaria, Germany on June 7–8.