AccountancyAge.com weekly news focus: Business
An overwhelming majority of European finance chiefs are backing International Accounting Standards against US GAAP.
A survey by KPMG indicates that, in the midst of growing tension between competing sets of accounting standards, chief financial officers at four out of five European business say unequivocally that IASs offer similar quality to US GAAP but at a much lower implementation cost.
As the profession digests news of trade secretary Stephen Byer’s plans to raise the audit threshold to £1m, a special analysis looks at his strategy for raising it once more to £4.8m, and the possible consequences.
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