The International Accounting Standards Board wants the US to remain committed
to its roadmap for moving to International Financial Reporting Standards and is
making the case directly to the new SEC chairman, WebCPA reported.
IASB Chairman David Tweedie met with the new chair of the Securities and
Exchange Commission, Mary Schapiro earlier this week, said WebCPA.
However, in her confirmation hearing last month Schapiro said that she would
not ‘feel bound’ by the roadmap, adding that she had some concerns about ‘IFRS
standards generally,’ according to WebCPA.
She also criticised the IASB in a follow-up letter to Congress, saying that
she ‘is not prepared to delegate standard-setting or oversight responsibility to
the IASB,’ according to WebCPA.
However, the IASB has been continuing work with the US Financial Accounting
Standards Board on various convergence projects, including work on
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Long-serving PwC director Fiona Westwood has moved to Smith & Williamson and stepped up to partner