INTERNATIONAL FINANCIAL reporting standards are in focus at the ICAEW, which is to chair an American Accounting Association debate on the future of the global standards in the US.
The panel will include former chairman of US regulator the FASB, Robert Herz, and forms part of the AAA’s annual conference from 6 – 10 August.
ICAEW executive director Robert Hodgkinson said the debate “could not be more timely” in light of the outspoken support for IFRS recently given by US regulator heavyweight Kathleen Casey.
Casey, on of five commissioners at the SEC, urged the regulator not to drag its heels on convergence, saying the US should be involved in the development of the global rules.
The ICAEW is also hosting an IFRS webinar for local authorities, with speakers from CIPFA and training provider BPP. The free event takes place on 11 August and will deal with some of the challenges councils faced in preparing accounts in IFRS for the first time.
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THE CI0T has called on the government to delay changes to tax relief for corporate interest expense to help businesses adjust to the new regime and prevent a negative impact on inward investment to the UK
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