The US Securities and Exchange Commission has vowed to be as tough when
reviewing financial statements prepared under IFRS as it is on numbers issued
under US GAAP,
‘Unequivocally, we will review financial statements prepared under IFRS
(International Financial Reporting Standards),’ said Wayne Carnall, deputy chief
accountant in the SEC’s division of corporation finance.
‘We will comment on financial statements, we will challenge the accounting
under IFRS and if the financial statements are wrong and do not comply with IFRS
we will require those companies to restate,’ he added.
Carnall also said that any restatement requests would be discussed first with
the Committee of European Security Regulators (CESR).
‘There have been a limited number of situations where we have consulted with
(the CESR), and we will certainly do so in the future,’ Carnall said.
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