The move is one of many projects designed to bring accounting standards closer on a global scale. However, differences between both boards – principally the accounting treatment of mergers – is expected to create an added level of complexity.
A large number of accountants in Japan has argued that certain business combinations should be seen as a ‘pooling of interests’ in which neither company is technically the acquirer, but under IFRS, all mergers must be treated as a form of acquisition in accounting terms.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned