Speaking in a personal capacity Herdman is reported to have said the Financial Accounting Standards Board should not disrupt its attention. ‘FASB’s got its hands full,’ he said.
Rather Herdman called on the FASB to deal with special-purpose vehicle entities, such as those used by Enron to hide massive liabilities, resulting in the gas company’s eventual collapse.
Stock option accounting has come into the public interest after Coca-Cola said it would account for them as expenses on the balance sheet instead of just as a footnote.
Herdman, speaking to the FT said the debate of stock options had continued throughout the 1990s, but no method of measurement could be agreed upon.
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