The Financial Accounting Standards Board is to downsize, with two fewer
members and an increase in the power of its chairman.
The board will now include five members rather than seven. There are several
vacancies coming up and the trustees had been concerned that training new
members might slow down plans to converge US and international accounting
But the moves may also be seen in the context of the moves globally to
international financial reporting standards, devised by the International
Accounting Standards Board. The FASB faces a debate over its future as IFRS
takes hold across the world.
The board’s oversight body, the Financial Accounting Foundation, proposed the
changes in December, with the plan criticized by many.
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
The tax return deadline is looming, but the 'mad rush' isn't necessary, argues Carl Reader
The London School of Business & Finance has become the official provider of ACCA tuition materials for the PwC CEE Academy