A grouping of key US accounting figures has urged senators to vote down an
attempt to “legislate accounting standards”.
Key accounting figures from bodies including the
Center For Audit Quality,
Institute, Investment Company Institute, and the
US Chamber of
Commerce among others, are attempting to block the so called Brown
amendment to the Restoring American Financial Stability Act, which would limit
leverage ratios at financial institutions.
The group said the standard setting process must be free, “both in fact and
“We believe political influences that dictate one particular outcome for an
accounting standard without the benefit of a public due process that considers
the views of investors and other stakeholders would have adverse impacts on
investor confidence and the quality of financial reporting, which are of
critical importance to the successful operation of the U.S. capital markets,”
the group said in a joint statement.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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