As philosophies go, TS reckons the International Federation of Accountants’ is beautiful in its simplicity. Less complexity equals less confusion.
And well if one is working on a scale as large as IFAC’s then better to keep things straightforward.
Picture it – IFAC’s aim is to nurture a stable and solid stool.
Since the last decade has been dedicated to focusing almost exclusively on the development of international accounting standards, IFAC’s stool is very one-sided or rather high-sided.
And as Graham Ward, IFAC board member, recently said: ‘If you don’t get them all you fall over!’ The four cornerstones of IFAC are ethics, compliance and the harmonisation of auditing and accounting standards.
That of accounting is the only fully grown leg of the stool. The body now has to concentrate on the other three or IFAC could face an uncomfortable life span.
TS hopes it won’t take as long in the development of the three remaining legs as it did for a set of global accounting standards.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel