Former Securities & Exchange Commission chairman Arthur Levitt has said
he does not believe it is important to have one worldwide accounting system,
during a panel discussion on international convergence of accounting standards
in New York.
Levitt, now a senior advisor at The Carlyle Group, told CFO.com:
[converge], but we can look for better standards. [International
convergence] is politically and culturally impossible.’
William Donaldson, also a former SEC chairman – who was present on the panel
– disagreed with Levitt, and expressed confidence that the Financial Accounting
Standards Board was on course to adopt International Financial Reporting
‘The long-term goal of a common standard is a good thing throughout the
world, particularly for US investors,’ he said. ‘The bringing together of
two systems is proper and reflects globalisation,’ said Donaldson.
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
The AAT will deliver the end point assessments for the apprenticeships
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The London School of Business & Finance has become the official provider of ACCA tuition materials for the PwC CEE Academy