PracticeAuditDeloitte boss says global standards convergence far off

Deloitte boss says global standards convergence far off

Jim Quigley questions whether capital markets can provide necessary training

Jim
Quigley,
the new global head of Deloitte
Touche Tohmatsu
, has warned that global resources may impact on the
profession on both sides of the Atlantic converging on one set of global
accounting standards.

He said a set of global standard were ‘years away’.

‘If you want to take the largest capital market in the world [the US] and ask
yourself: ‘do we have the training and capability to get auditors up the
learning curve to deal with the new set of accounting standards and the
education system to produce those accountants?’ – we need to think it through
more deeply,’ Quigley said.

Quigley said though that there was momentum in this direction and added that
investors were better served with converged standards.

Further reading:

Connolly named as Deloitte global chairman

US discovers world standards

ASB offers peace deal in segments row

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