US BANKS appear to have won an important concession from their accounting watchdog in the way they value loans books.
The Financial Times reports this morning that the move brings the US accounting standard setter, FASB, closer to the approach laid out by international accounting standard setter.
FASB had insisted assets such as loans should valued using fair value but will now use a cost based method.
The accounting for financial assets has been at the heart of an intense debate since the financial crisis began between politicians, banks and the standard setters.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned