A high-profile group of financial analysts has protested against drastic proposals by accounting regulators International Accounting Standards Board (IASB) and its USA's Financial Accounting Standards Board (FASB) to scrap bottom-line earnings figures from financial statements, saying it would be detrimental to investors.
The Corporate Reporting Users’ Forum (CRUF), made up of senior research analysts from banks and fund managers, including Deutsche Bank, Merrill Lynch, Lehman Brothers, Fidelity and Hermes, said in a letter to both IASB and FASB they disagreed with the proposal not to state an earnings sub-total in a performance statement.





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