Technical staff of the US Financial Accounting Standards Board defended fair
value over the weekend, amidst questions raised by the senior figures.
‘We believe fair value gives you more transparency into the underlying
assets,’ FASB technical director Russell Golden said.
The standard has come under fire from US investment banks other financial
institutions as caused large writedowns during the global credit crunch,
CFA Institute CEO, Jeffrey Diermeier, said that 55% of respondents in a
survey said fair value requirements had aggravated the global credit crises.
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