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<p><span>The Monitoring Group (&ldquo;MG&rdquo;) is responsible for the overall governance of the international audit and ethics standard-setting system, including periodic effectiveness reviews. In July 2020, the MG issued its recommendations&nbsp;</span><a href="https://www.iosco.org/about/monitoring_group/pdf/2020-07-MG-Paper-Strengthening-The-International-Audit-And-Ethics-Standard-Setting-System.pdf" target="_blank"><i>Strengthening the International Audit and Ethics Standard-Setting System</i></a><span>&nbsp;(MG Recommendations or MG Reforms).&nbsp;</span></p>

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