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.
A short moratorium will give struggling companies a chance to be open with their creditors and negotiate a way out of their problems transparently, says Sykes
Vernon Soare has been named as ICAEW’s new Chief Operating Officer
Chair of onshore energy company Aurora Petroleum confirmed as ICAS president for 2016
Leslie has already served as a director on the IPA governing board which is responsible for the management, policy and strategic direction of the organisation