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UK parliamentary body urges caution over IFRS

  • Auditing Image

30 Mar 2011

The UK House of Lords committee examining audit concentration and the role of audit has issued its report.

Although it mainly calls for the re-establishing of confidential dialogue between bank auditors and supervisors it also contains some observations on the role which IFRS should play. Chapter 5 of the report is dealing with the impact of IFRS on the banking sector. Here is an extract:

Click Here (link to UK Parliament website) for the full report.

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