ICAEW to call for more US recognition
US regulators must recognise UK standards
The ICAEW, supported by the
Confederation of British Industry, will
today call on US regulators to ‘mutually recognise’ the rigour of British
accounting standards, rather than try and impose the US system on British
headquartered and regulated companies.
According to the Daily Telegraph,
both organisations will be represented at a round table debate of senior
accounting and auditing figures, regulators and corporate leaders from both the
UK and US in London.
Richard Lambert, the CBI’s director general and Robert Hodgkinson, the
institute’s technical director, will speak alongside their colleagues from the
US against the rules-based approach coming from Washington in the wake of
Sarbanes-Oxley and other corporate governance measures.
Further reading:
Internet pioneer hits out at Sarbox rules
SEC reviews expensive Sarbox accounting rule