ASB probe US standards.

The Accounting Standards Board is analysing the differences between UK and international accounting standards in preparation for convergence of global accounting rules. Principally, however, preparations have not centred on aligning UK GAAP to IASs. Allan Cook, technical adviser at the ASB, said: ‘UK standards are developed with closer attention to the UK environment. We would hope this wasn’t lost as countries move closer to IASs.’

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