A US House panel will investigate mark-to-market accounting on March 12 with
the aim of striking a compromise between proper investor disclosure and the
needs of financial institutions.
But US representative Paul Kanjorski, chairman of the House Financial
Services’ capital markets subcommittee, stopped short of wishing away the
controversial practice altogether.
‘While companies need stability, investors still need accurate information.
We therefore cannot allow for fantasy accounting that wishes away bad assets by
merely concealing them,’ Kanjorski said in a statement announcing the hearing.
US industry groups have called on the Securities and Exchange Commission and
the standard setter to modify or suspend mark-to-market accounting, claiming it
is threatening the government’s bailout of the banking sector.
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
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