Changes to accounting standards in the US are being touted as potentially
cutting losses on mortgage-backed and asset backed securities.
The change comes to the US standard FAS157, the key rule that embodies fair
value accounting. The changes, according to
Week, mean future cash flows can be taken into account when testing
securities for impairment.
The UK watchdog, the Financial Reporting Review Panel, yesterday said it
would looking closely at impairment testing in accounts composed during the
Financial Week quotes New York tax expert Robert Willens saying: ‘They’re
trying to introduce a little realism’ into fair value accounting, ‘This may be
the first break in the dam.’
Steve Butler of Punter Southall Aspire highlights the importance of pension governance meetings to protect against mistakes and safeguard company reputation
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Nasar Zamir of Congruent discusses the RBS complaints process for GRG losses and how specialist guidance can best support a claim
The AAT will deliver the end point assessments for the apprenticeships