Robert Herz, Financial
Accounting Standards Board (FASB) chairman’s, wishful thinking is to see the
day when FASB will become part of the International Accounting Standards Board
Speaking at the
IFAC World Accountancy
Forum during World Accountancy Week, he said it would be a single
organisation, called the International Accounting Standards Board, but it would
have an office in the US ‘maybe in Norwalk, Connecticut’ where FASB is based.
He also envisioned the organisation to have branches in other countries such
as China and said FASB had not only been discussing accounting convergence with
the IASB, but had also had separate bilateral meetings with regulators in China,
Japan and other countries.
He believed IASB needed to continue to work on improving the funding
mechanism which supported the organisation and noted IASB did not have the
political standing of organisations such as FASB, which had been funded by
mandatory contributions since the passage of the Sarbanes-Oxley Act.
Law Society claims that the public interest cannot prove to have been served by the ICAEW's move into probate - and as such should not be used by the institute as evidence to back its push into further legal services
The body will start to accept applications from parties wishing to obtain a partial licence on 1 July 2016
Duncan Wiggetts is to be ICAEW’s new executive director for professional standards
New qualification in preventing corruption and fraud to be offered by CIPFA in wake of new corporate corruption laws